Karimnagar DCCB chairman asks PACS to diversify business activities

Karimnagar DCCB chairman informed PACS to examine the feasibility of setting up generic medical shops to sell medicines at cheaper rates as part of diversification of business

Karimnagar: Karimnagar District Cooperative Central Bank chairman Konduru Ravinder Rao has called upon the Primary Agricultural Cooperative Societies (PACS) to diversify their business activities to reap riches and benefit the farming community.

Stating that they were unable to open more branches in the district due to restrictions imposed by the Reserve Bank of India, he informed the PACS to convert the societies into bank counters and provide all services to customers on par with banks.

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Presiding over the 102nd general body meeting of the KDCCB here on Monday, Ravinder Rao said they were the first cooperative bank in the State to convert the PACS as common service centers (CSC) to offer around 300 digital services at the doorstep of the villagers. As part of the conversion of PACS into CSCs, the farmers and other villagers could avail of services listed on the digital seva portal of the CSC scheme including corrections and issuance of Aadhar and PAN cards, LPG cylinder bookings, banking and insurance services etc.

He also informed the PACS to examine the feasibility of setting up generic medical shops to sell medicines at cheaper rates as part of diversification of business. He also reminded that the NABARD assistance for the diversification as PACS into Multi-service centre (MSC) would continue till 2026 following his request and informed the PACS to utilize the opportunity.

The general body meeting passed a resolution to provide financial assistance of Rs 1 lakh to the bereaved family of the PACS chairperson who dies when in power. The DCCB had also decided to provide financial assistance for the annual maintenance of computers of all PACS at a cost of Rs 25.80 lakh. Following the request from the members, the chairman assured to look into the possibility of providing group insurance coverage to the PACS chairpersons.

When the members informed about some difficulties in the implementation of HR policy for the PACS employees, the DCCB chairman assured to solve the problems after consultations.

The chairman also officials of a few PACS for achieving 100 percent recovery and registering business of over Rs.100 crore.

Vice chairman P Ramesh, CEO N PACS Satyanarayana Rao, NABARD DDM S Jayaprakash, directors and others were also present.