Bhubaneswar, Oct 15: Online operations in Primary Agriculture Cooperative Societies (PAC), first of its kind initiative in the entire country, was launched in Odisha.
Chief Minister Naveen Patnaik on Friday launched online operations for efficient and transparent service delivery in the field of banking, credit and other operations
Describing it as an historic moment for the Co-operatives of the State,Patnaik said with this 2063 PACS were brought under the Core Banking Solution platform.
He said Co-operative Banks and PACS provide around 60 percent of the total crop loans disbursed
in the state and appreciated the fact that almost the entire paddy procurement operations and procurement of other agricultural produce in Odisha are done by these PACS.
The government, Patnaik said, has been providing share capital assistance to the Co-operative Banks and PACS in order to build up a strong capital base for them. The Government is also providing interest subsidy support to the farmers.
The Core Banking Solutions and computerised operations of PACS have been included as important 5T interventions of the state.
Congratulating the 384 new Banking Assistants, who were inducted in 15 District Central Co-operative Banks he advised them to follow the 5T initiative as it carries special significance for the cooperative sector.
Cooperation Minister Atanu Sabyasachi said computerisation of Coop Banks, PACS will bring revolutionary changes in the Cooperative sector and improve farmers’ financial inclusion.
