Union govt to install centralised software for primary cooperative societies


Biju Paravath

1 min read
Read later
Print
Share

Amit Shah | Photo: PTI

Thiruvananthapuram: The union government has announced that a unified software, controlled centrally, would be implemented in the primary cooperative societies across the country.

During the budget speech at the Lok Sabha, union finance minister Nirmala Sitharaman said that the government was promoting a cooperative-based economic development model for small and marginal farmers and other marginalised sections.

The government has initiated the computerisation of 63,000 Primary Agricultural Credit Societies (PACS) with an investment of Rs 2,516 crore, she said.

The PACS are popularly known as ‘cooperative banks’ in Kerala. To install the unified software, NABARD will find system integrators in each state through open tenders.

The system integrators will be in charge of hardware, transferring data of the societies and customising the software according to the nature of the establishment in the states.

The union government has stated that they were aiming to help farmers with digital transactions of money.

The software will be capable of taking over the lending and other activities of the primary cooperative banks. This will be linked with Kerala Bank, which will make loan disbursement quicker.

The data provided by the societies will be transferred to the central server through the state bank.

Add Comment
Related Topics

Get daily updates from Mathrubhumi.com

Newsletter
Youtube
Telegram
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.

IN CASE YOU MISSED IT
jawahar kareem

1 min

Man abducts woman after threatening to pour acid on her body in EKM

Sep 21, 2023


nipah

1 min

Nipah alert: 24 more samples test negative, says Veena George 

Sep 21, 2023


Karuvannur bank

1 min

Karuvannur: Complainants report receiving death threats, prompting police to advise caution

Sep 21, 2023