• DR. MANOJ KUMAR

The scheme of financing PACS by commercial banks was introduced initially in june 1970 in 49 selection districts of five states which was subsequently extended to eight more states. Under the scheme ,the branches of commercial banks in selection districts will finance PACS in compact are with in a radius of 10 to 15 miles of the branch offices . The aim of the scheme is to fill in ,to the extent possible ,the production and medium term investment credit gaps of these area with special reference to the credit needs of the small farmers so as to eliminate recourse by farmers to non-institutional credit agencies .Another objective of the scheme is to revitalize the working if societies so that become efficient business organizations operating at the village level. The commercial banks financing PACs under the scheme , are eligible for refinance from the reserce bank of india at a concessional rate of interest of 9/2 percent .As on

SCHEME OF FINANCING PRIMARY AGRICULTURE CREDIT SOCIETIES (PACS) AND FARMERS SERVICE SOCIETIES.

"SCHEME OF FINANCING PRIMARY AGRICULTURE CREDIT SOCIETIES (PACS) AND FARMERS SERVICE SOCIETIES.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.972-972, March-2019, Available :http://www.jetir.org/papers/JETIR1903K41.pdf

"SCHEME OF FINANCING PRIMARY AGRICULTURE CREDIT SOCIETIES (PACS) AND FARMERS SERVICE SOCIETIES.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp972-972, March-2019, Available at : http://www.jetir.org/papers/JETIR1903K41.pdf