Good Governance and diversification of businesses would transform PACS to reap riches, says KDCCB CEO

KARIMNAGAR, OCTOBER 13, 2023: Karimnagar District Cooperative Central Bank CEO N Satyanarayana Rao has said that the good governance, supervision, accountability and diversification of business activities would definitely ensure the success of the Primary Agricultural Cooperative Societies (PACS) and strive for the rural development.

He was interacting with delegates of PACS Jakkepalli village of Kusumanchi mandal in Khammam district, who made a visit to Karimnagar DCCB as part of their study tour on Friday to adopt the best practices of Karimnagar DCCB and its PACS and emerged as the number one cooperative bank ad PACS in the country. The PACS team also visited the Sultanabad PACS to study its functioning and diversification of business activities. PACS Jakkepalli chairman S Srinivas, secretary Santosh, manager Sashidhar and others attended.

Speaking on the occasion, the DCCB CEO informed the PACS team members to ensure that there was no role of politicians in the functioning of the society. Stressing on the importance of diversification of business activities of the PACS to reap riches, he explained how the PACS of Karimnagar district have diversified its activities by providing all services at the doorstep of the farmers in the villages including the Common Service Centre (CSC) services. He informed them to utilize the diversification of PACS under the Multi-Service centre.

Informing the PACS representatives to provide all kinds of loans through society, he instructed them to accord priority for the recovery of the loans also. He said that if the loans are properly utilised there would not be any problem in its repayment and added that the society should ensure that the loans were utilised properly by the customers.

PACS development centre resource person G Satyanarayana explained various measures taken by the Karimnagar DCCB for the diversification of the PACS to make them run in profits. He said that the PACS in Karimnagar district were providing all services to the customers on par with the bank such as lending house loans, gold loans, educational loans, vehicles loans. He also explained business activities of the PACS such as godowns, function halls, petrol filling stations, RO water plant, rice mills, seed processing units, and more.


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