Empowering Farmers: Amit Shah's Cooperative Banking Reforms

Amit Shah announced upcoming reforms in the cooperative banking sector, focusing on Primary Agricultural Credit Societies (PACS) to provide long-term finance for farmers. He emphasized technological upgrades, youth engagement, and expansion plans, aiming to boost the sector's viability, transparency, and modernity.

Cooperation Minister Amit Shah revealed plans to provide long-term financial support through Primary Agricultural Credit Societies (PACS) to empower farmers. Addressing the National Federation of State Co-operative Banks Ltd (NAFSCOB)'s Diamond Jubilee Celebration, Shah urged the federation to modernize and prioritize PACS to enhance their viability and transparency.

Shah highlighted that cooperative banking reforms are critical, with calls for technological upgrades and increased youth engagement. He set ambitious goals to expand district cooperative banks by 50% and encourage the creation of low-cost deposit opportunities.

Emphasizing a balanced approach, Shah outlined the Modi 3.0 government's commitment to technological transformation in the sector, demonstrating this with the implementation of a common software in eight languages to connect state and district cooperative banks with NABARD.

(With inputs from agencies.)