Banking

PACS Computerisation initiated in Odisha

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Chief Minister of Odisha Naveen Patnaik launched the computerisation of Primary Agricultural Co-operative Society (PACS) under the supervision of Cooperation Department. This programme will computerise 2708 PACS in the state and convert PACS as One Stop Shops for all the requirements of the farmers.

Odisha is the first state to implement an integrated Core Banking Solution (CBS) Project covering all the tree tiers of the Short Term Credit Cooperative Structure i.e. State Cooperative Bank, District Central Cooperative Banks and Primary Agriculture Cooperative Societies. With computerisation of the PACS, the farmers are now able to draw their sanctioned loans from the ATM networks of National Payments Corporation of India (NPCI) having 2.14 lakh ATMs of all Banks across the Country.

RuPay Kisan Cards are also launched by the Cooperation Department for the beneficiary farmers of the state. Micro ATM cards are distributed to farmers for dispensation of loans at the doorsteps of the farmers.

According to the Co-operation Department, Core Banking Solutions (CBS) in Cooperative Banks and PACS, the proceeds of the paddy procurement operations to the extent of around Rs 8000 crores credited directly to the farmers account. Now the farmers of the State are empowered to access credit through the ATM networks. Odisha is the first state in the country to introduce such a foolproof system to ensure transparency through technology and network.

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