Gandhinagar: Union Cooperation Minister Amit Shah on Saturday said the Centre and National Bank for Agriculture and Rural Development (NABARD) will soon undertake an ambitious project to computerise around 65,000 Primary Agricultural Credit Societies (PACS) in the country.
Speaking at the ‘Sahkar Se Samruddhi’ conclave of cooperative entities here at Mahatma Mandir auditorium, he also said the Union government was planning to bring in several amendments to the Multi-State Cooperative Societies Act, 2002.
Prime Minister Narendra Modi was also present at the event.
“There are nearly 65,000 PACS in the country. We have decided to computerise all these PACS with the help of NABARD. This will prove to be a revolutionary step for our agricultural finance credit system. There will be common software for all PACS, and NABARD will get details on a daily basis, such as daily business and recovery of these PACS,” said Shah.
The system will bring transparency and stop cooperative societies from going bankrupt, he said, adding that the government was working to make the PACS “multipurpose”.