Chief Minister Mohan Yadav of Madhya Pradesh has initiated a campaign to increase the presence of Primary Agricultural Credit Societies (PACS) in the state by enrolling 10 lakh new members before June 30. This drive, which commenced on April 14, aims to enhance the cooperative movement and improve financial services for farmers. Additionally, Chief Minister Yadav has set a target to issue 1.25 lakh new Kisan Credit Cards annually to provide farmers with better access to credit facilities.
Reviewing the progress of the Cooperation Department, Chief Minister Yadav instructed officials to intensify efforts in strengthening financially vulnerable District Cooperative Central Banks. Out of the 18 such banks, six have already shown significant improvement in the past two and a half years. The state government is extending share capital support to bolster banks in various districts, with plans to focus on others in subsequent phases.
Madhya Pradesh has achieved full computerization of all 4,536 PACS in the state under a Central scheme, positioning it as a leader in this aspect nationwide. To facilitate seamless transactions, a mobile application for these societies will be launched soon. The cooperative sector has seen growth in seed production, marketing, and the establishment of new milk cooperative societies, promoting financial inclusion in rural areas.
The Madhya Pradesh State Cooperative Seed Federation has signed agreements with national-level cooperative bodies, such as Bharatiya Beej Sahakari Samiti Ltd and National Cooperative Organics Ltd, to enhance business opportunities and membership for PACS. Collaborations with other entities like National Cooperative Exports Ltd are also in progress, focusing on identifying specific products for joint ventures.
