JOIN USPACS soon may be allowed to sell petroleum products, run PDS shops
Primary Agriculture Credit Societies (PACS) may soon see undertaking business activities like dealership of petroleum products, running PDS shops, developing and running health and education institutions as well as arranging locker facilities and acting as 'Bank Mitra' for financial and banking institutions.
These are part of the draft 'Model By-laws of PACS' publicised by the Amit Shah-led Ministry of Cooperation on Monday seeking suggestions from state governments and other stakeholders by July 19. At present, the PACS are not allowed to diversify and have to stick to their core business.
According to the draft model by-laws, the objective of the PACS is to provide to its members "timely and adequate short-term and medium-term credit" for development activities related to agriculture, loan for consumption or medical purpose against collateral/pledge financing, maintaining the financial norms in the operational area. It can also provide long-term loans after approval from District Central Cooperative Banks (DCCBs).
The draft proposes that the PACS could provide community based service in the field of education (school, college), health (hospital, dispensary, clinical laboratory, ambulance service), tourism and environmental and sustainable development activities to the members as well as participate in the government schemes for payment services through Direct Benefit Transfer (DBT) to beneficiaries.
It could also be allowed to work as Bank Mitras and common service centres (CSCs), provide cold storage and godown facilities, set up PDS shops besides enabling them to work in dairy, fishery, irrigation and green energy sectors.
The PACS should also be allowed to engage in "service or business operations (like infrastructure development, community centres/hospital or education institutions, procurement of food grains, Fair Price Shop, or any government scheme, dealership/agency/distributorship or supply of LPG/petrol/diesel/green energy, farm or household consumables/farm machineries, training of members for skill improvement, etc) which may enhance the facilities and income of Society or its members".
The draft also envisages PACS entering into collaboration with government departments, universities, industries and industry bodies with necessary approval from the concerned government to augment its capacity. It could also act as a data centre for the government.
The PACS could double itself as an implementation agency of social security schemes for its members, the draft said.