The MoU would facilitate the procurement and supply of essential food items and allied products through local Cooperative Societies, Farmer Producer Organisations (FPOs) and Primary Agricultural Credit Societies (PACS), thereby providing them with assured market linkages for their products.
The Cooperative Department recently digitalised the crop loan process, enabling farmers to apply online with the promise of same-day processing.
LoP Rahul Gandhi, who arrived on Monday morning on a day-long visit to Telangana, participated in the meeting at SAP Arts and Science College in Vikarabad.
He emphasized that urban cooperative banks are becoming a medium for providing support to small traders, the middle class, small businesses, and vulnerable sections, offering them self-employment opportunities.
Announcing that the Union government plans to establish Primary Agricultural Credit Societies (PACS) in every panchayat by 2029, Union Home Minister and Minister of Cooperation Amit Shah Sunday said India’s cooperative sector cannot be strengthened unless the benefits of the changes in this sector reach the grassroots level.
The Ministry of Cooperation, in coordination with the Ministry of Defence, is hosting the special guests.
He pointed out that in the last nine years, about Rs 26,000 crore of poor people’s money have been saved through the Jan Aushadhi Kendras.
Agriculture infrastructure fund extends interest subvention of 3 per cent on project loan by banks and loan up to Rs 2 crore in each case and is secured under credit guarantee fund trust and thus there is no need for collateral security for loan sanction.
Multiples Private Equity Fund and PACs held 11.88 per cent stake in PVR earlier. It has now come down to 9.71 per cent.
The CM said that the state government was also planning to constitute a three members committee of Cabinet Ministers to look into the amendments in the H.P. Cooperative Societies Act, 1968 to make it more viable and practical keeping in view the present scenario.
