Govt keen to transform PACBs into core banking service: Radhakrishnan

MADURAI: The State government is on a move to transform as many as 2,000 PACBs into a core banking service by the end of 2024, said J Radhakrishnan, Principal Secretary, Food and Consumer Protection, in Madurai on Monday.

He was inspecting the Primary Agriculture Cooperative Credit Society and Civil Supply warehouse at Chekkanurani in the Madurai district.

Subsequently, the Principal Secretary also inspected a Cooperative medical shop at Chekkanurani and interacted with the personnel on the availability of stocks. He also took stock of the paddy direct procurement centre at Thanichiyam village near Vadipatti along with officials.

After inspecting, Radhakrishnan said there are over 22,000 cooperative societies functioning in different forms including fair price shops and 4,453 primary agricultural cooperative banks. There are a total of 35,941 ration shops including 26,018 full–time shops and 9,923 part-time functional shops.

Chief Minister MK Stalin is keen to transform these cooperative societies and PACBs into multi-service centres to benefit the people. Over the last one year, 17 types of loans to the tune of Rs 64,140 crore were provided to the needy. About 85 per cent of the loan disbursal was made to small and marginal farmers.

Credit facilities of Rs 1,072 crore were extended to the Adi Dravida community until the recently ended fiscal and loans of Rs1,339 crore were given to 2,86 lakh cattle farmers.

Madurai Collector S Aneesh Sekhar and officials from various departments accompanied him, sources said.