Mini Banks in Villages! PACS to Offer Deposits, Withdrawals & Credit Cards in Rohtas and Kaimur
In a major move towards rural financial empowerment, Primary Agricultural Credit Societies (PACS) in villages of Rohtas and Kaimur will now function as mini banks, offering services like deposits, withdrawals, account opening, and credit card facilities.
50 PACS Selected as DMA Friends
Key Facilities Available
Benefits for Rural Residents
Boost to Cooperative Movement
A Step Towards Prosperity Through CooperationManaging director Arvind Kumar Paswan emphadata-sized that the move will enhance trust in rural banking and give a new direction to the cooperative movement, ensuring financial inclusion and growth at the village level.
50 PACS Selected as DMA Friends
- A total of 50 PACS committees – 29 in Rohtas and 21 in Kaimur – have been selected as Deposit Mobilization Agent (DMA) Friends.
- They will be equipped with micro ATMs and POS machines to provide banking at villagers’ doorsteps.
Key Facilities Available
- Opening of savings accounts
- Cash deposits and withdrawals
- Issuance of Kisan Credit Cards (KCC) for farmers
- Assistance with banking documentation and transactions
Benefits for Rural Residents
- Villagers, especially women and elderly citizens, won’t need to travel to far-off bank branches.
- Farmers will receive quick financial aid via KCC, while small businessmen can manage transactions locally.
Boost to Cooperative Movement
- PACS will transform from mere suppliers of seeds, fertilizers, and loans into financial service hubs.
- This initiative will create local employment opportunities and strengthen the cooperative banking network.
A Step Towards Prosperity Through CooperationManaging director Arvind Kumar Paswan emphadata-sized that the move will enhance trust in rural banking and give a new direction to the cooperative movement, ensuring financial inclusion and growth at the village level.