2,600 PACS to be developed as banking service points in Bengal

In a bid to provide banking services in the unbanked gram panchayats in West Bengal, about 2,600 deposit mobilising Primary Agriculture Cooperative Sector (PACS) will be developed as customer service points of district or state cooperative banks, as recommended by a panel, an official statement said on Monday.

Formed in January, the state level monitoring committee for cooperative sector also recommended establishment of 2,000 farm machinery hubs through the best-performing PACS in the state.

"The deposit mobilising primary agriculture cooperative sector numbering about 2,600 will be developed as customer service points for banking service rendered by district/state cooperative banks by computerising them and connecting them in core banking solution of cooperative banks," the statement said.

The work has been initiated in respect of 1,133 PACS.

"The entire work would be completed by end of 2019-20 with approximately half of them within this financial year," the statement said, adding that district and state cooperative banks should open full-fledged bank branches wherever possible in the unbanked gram panchayats.

Micro ATMs are being installed in all such PACS for the convenience of customers.

"The committee has recommended establishment of 2000 farm machinery hubs through the best performing PACS in the state. In 2018-19, 1000 such hubs will be established and the remaining will be established during 2019-20," it said.

The project was approved by the state government, it added.

The committee is chaired by Chief Secretary of state government and has the Finance, Cooperation, Panchayats and Rural Development and Agriculture Secretaries as members.

--IANS

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