Progress on Digitization of Co-Operative Societies Discussed at Rajya Sabha

A Centrally sponsored project for Computerization of 63,000 functional PACS/ LAMPS across the country with a total financial outlay of Rs. 2,516 Crore is under implementation. The project entails bringing all the functional PACS onto on ERP (Enterprise Resource Planning) based common software, linking them with NABARD through State Cooperative Banks (StCBs) and District Central Cooperative Banks (DCCBs).

This was stated by the Minister of Cooperation, Shri Amit Shah in a written reply to a question in the Rajya Sabha.

At present, proposals for computerization of 58,383 PACS have been received from 24 States and 4 Union Territories. Release of central share amounting to the States/ UTs for the procurement of hardware, digitization of legacy data and establishing support system is under process. An amount of 11.28 crore has been released to the State of Uttar Pradesh under this Project for Computerization of 1,539 PACS. The Project Monitoring Units (PMUs) have been set up at Central and State Levels by NABARD. Development of software has been started by the National Level Project Software Vendor (NLPSV) selected by NABARD.

The expected benefit of the computerization of PACS Project, inter alia are - increasing efficiency of their operations, ensuring speedy disbursal of loans, lowering of transaction costs, reducing imbalances in payments, seamless accounting with DCCBs and StCBs and increasing transparency. Implementation of Common Accounting System (CAS) and Management Information System (MIS) would enable PACS to carry out their operations online and obtain refinance/ loans for their various activities from NABARD through DCCBs and StCBs.