Karimnagar DCCB CEO N Satyanarayana Rao said they have decided to convert the 128 PACS into district one-stop shops and already over 50% of the companies have been turned into MSCs.
Karimnagar: Konduru Ravinder Rao, chairman of Telangana State Cooperative Apex Bank (TSCAB), said the bank is taking all measures to transform and rejuvenate all primary agricultural cooperative societies (PACS) into one-stop shops and diversify their activities while providing loans to small and marginalized. Farmers.
“Our idea is to diversify PACS activities into multiservice centers such as the supply of agricultural inputs and tools, the storage and valuation of agricultural products by using the support of the government in general and of NABARD in particular and to help companies to operate for profit, ”he stressed.
Ravinder Rao, accompanied by lawmaker of Manakondur Rasamayi Balakishan, chairman of SUDA GV Ramakrishna Rao, chairman of DCCB N Satyanarayana Rao, chairman of Utoor PACS Pradeep Reddy, NABARD DDM Ananth and others attended the inauguration a rice mill built at a cost of Rs 1.25 crore and laid the foundation stone on Monday for the construction of a godown at a cost of Rs 1 crore by PACS in the village of Utoor in Manakondur Mandal.
Speaking on the occasion, Ravinder Rao said ten years ago, PACS Utoor was losing money because it relied solely on credit to farmers. “Now they have diversified their business and operate a gas station, built five godowns, an RO water plant, set up a seed processing unit and operate three company counters and made a roaring business. over Rs 25 crore and earn profits, ”he said.
Appreciating the Utoor PACS for opening a rice mill and planning to set up a Dal (pulses) factory, he said companies should take the added value to farm products and realize profits. The company is expected to sell the Utoor brand rice and dals and gain the trust of customers and benefit farmers.
District Cooperative Central Bank (DCCB) CEO N Satyanarayana Rao said they are taking all necessary steps to use NABARD funds to boost PACS through cooperative banks to undertake multi-service activities . He also said that they had decided to convert the 128 PACS into district one-stop shops and that more than 50 percent of the companies had already been transformed into MSCs.
NABARD provides technical support to PACS and assists them in choosing the right project as part of the transformation into Multi-Service Centers (MSC).
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