AP State Cooperative Bank Achieves Triple-digit Growth During YSRCP Regime

Amaravati: Chief Minister YS Jagan Mohan Reddy stressed on the need to undertake a comprehensive study for improving the functioning of District Cooperative Marketing Societies (DCMS) in the backdrop of Primary Agricultural Cooperative Societies (PACS) being linked to the RBKs. 

At a review meeting held at the Camp Office here on Thursday, the Chief Minister said the study is necessary to support the farming community and women’s self help groups by extending loans at a lesser interest rate and hand holding them in their activities to strengthen the village economy. 

Since RBKs are functioning like branches of APCOB and DCCBs and every PAC having jurisdiction over three to four RBKs which have been extending credit and non-credit services, the functioning of DCMS also should be improved to extend their services to suit the changed circumstances, he said, adding a study should be taken up on achieving this task.

Stating that the CM App is playing a key role in ensuring MSP for various agricultural produce, the Chief Minister said that DCMS also should now play key role in this. There is a need to integrate the primary and secondary food processing systems with the DCMS. Officials should undertake a comprehensive study on all these aspects and submit a detailed report on the steps to be taken, he said.

Since ours is an agriculture-based state, we should necessarily strengthen and extend the activities of APCOB, DCMS, DCCBs and PACS by making them fully professional so that they can handhold farmers and women’s self help groups by supporting them at every step. 

While the PACS should be made fully professional, they should also act as regional offices for RBKs and all PACS should be fully computerised by November.

PACS should take care to ensure that quality fertilisers are supplied while providing agricultural and gold loans to farmers and women for lesser interest rates than commercial banks to boost up the rural economy, he said.

When officials informed him that the worth of financial transactions in all PACS across the state went up to Rs..21,906 crore from Rs.11,884.97crore in the last four years and 400 PACs have come out of the losses, he asked them to take necessary steps to ensure that all PACS and DCCBs also get profits.  

The Chief Minister asked them to update the revenue records and make them available at the PACS which should develop SOPs on sanctioning loans in a transparent, efficient and flexible manner. 

He was informed that APCOB registered a growth rate of 175 percent in the last four years as its financial transactions went up to Rs. 36,732.43 crore from Rs.13,322.55 crore while the worth of its non-performing assets has come down by 50 %.

The Chief Minister directed the APCOB to extend support to women in providing self-employment opportunities through Cheyutha funds. There should be regular audits in APCOB, PACS and DCCBs.

సహకార శాఖపై సీఎం క్యాంప్ కార్యాలయంలో ముఖ్యమంత్రి శ్రీ వైఎస్ జగన్ సమీక్ష pic.twitter.com/oQGrZotxDt

— CMO Andhra Pradesh (@AndhraPradeshCM) August 10, 2023

Minister for Agriculture and Cooperation K. Govardhana Reddy, Chief Secretary Dr. K.S. Jawahar Reddy, Marketing & Cooperation Principal Secretary Chiranjeevi Choudary, Finance Secretary KVV Satyanarayana,Civil Supplies Corporation VC and MD G. Veerapandian, Agriculture Special Commissioner Ch. Harikiran, Registrar of Co-operative Societies Ahmad Babu, APCOB MD RS Reddy and other senior officials were present.

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