Primary Agricultural Cooperative Credit Societies (PACCS)

Functions:

-It provide credit to the farmers, distribute inputs like fertilizers and also run outlets under Public Distribution System.
-These banks provide short term and medium term credit for agriculture and allied activities.
-The short term loans are repayable within a period of 12 to 15 months and the medium term loans are repayable within 3 to 5 years.
-The loan amount exceeding this limit is secured with mortgage of property or pledge of jewels.
-Primary Agricultural Cooperative Credit Societies also issue loans for other agricultural purposes like purchase of farm machineries.
-To provide marketing facilities for the sale of agricultural produce.
-To associate itself with economic and social welfare programmes of the village.