Cooperation Minister Amit Shah on Tuesday said the government will soon provide long-term finance through Primary Agricultural Credit Societies (PACS) to further empower the farming community.
Speaking at the National Federation of State Co-operative Banks Ltd (NAFSCOB)'s Diamond Jubilee Celebration, Shah also directed the National Federation of State Co-operative Banks to prioritise making PACS more viable, transparent, and modern.
The minister stressed the strengthening of the spirit of cooperation while expressing concern over the "dilution" of this spirit in state and district-level cooperative banks in many places.
"We will provide long-term finance through PACS...We will start this soon. This will further empower farmers," Shah said, addressing NAFSCOB's Diamond Jubilee Celebration.
Currently, PACS provide short-term finance to the farmers.
Urging the NAFSCOB to play a bigger role in strengthening the cooperative banking sector, Shah said its work is "not just about holding