The Cooperative Department of the Government of India has been making continuous efforts to enhance the viability of Primary Agricultural Credit Societies (PACS) and to diversify their business activities. The departmental committee has been constituted to implement the model bye-laws recommended by the Government of India in the state of Rajasthan. To make PACS vibrant economic institutions at the village level, the competent authority has proposed amended bye-laws .
The proposed amendments in the bye-laws of PACS and LAMPS in the state are directed under Section 11 of the Rajasthan Co-operative Societies Act, 2001. It is essential to propose the amended bye-laws of all packs and lamps, and take necessary actions to inform the concerned authorities.
The primary objective of this amendment is to improve the functioning of PACS and to make them economically self-sustainable. The new bye-laws will allow PACS to diversify their business activities beyond traditional agricultural credit operations. This will enhance their income streams and enable them to contribute to the overall development of rural areas.
The proposed amendments aim to provide more flexibility to PACS to undertake various activities such as trading in agricultural inputs, procurement and marketing of agricultural produce, and providing technical and advisory services to farmers. The amended bye-laws also allow PACS to raise additional capital through various means such as issuance of shares, deposits, and loans.
The amendments proposed in the bye-laws will also enable PACS to adopt modern technology and digital solutions to improve their operational efficiency and customer service. This will help in attracting a younger generation of farmers who are more tech-savvy and demand digital solutions for their financial needs.
In conclusion, the proposed amendments in the bye-laws of PACS and LAMPS in Rajasthan will bring significant changes to the functioning of PACS. By diversifying their business activities and adopting modern technology, PACS will become more economically self-sustainable and contribute to the overall development of rural areas. It is essential to implement these amendments after approval to ensure that PACS becomes vibrant economic institutions at the village level.
Read More – Rajasthan Co-operative Societies Act 2001