The Bihar government has announced that state cooperative banks will soon extend interest-free, short-term agricultural loans to farmers. This initiative aims to provide credit to farmers for various financial needs related to agricultural and allied activities, including post-harvest expenses. Dipak Kumar Singh, Additional Chief Secretary of the Bihar Cooperative Department, emphasized the government’s commitment to the welfare of stakeholders in the cooperative sector, particularly farmers with Kisan Credit Cards (KCC). To enhance the role of Primary Agricultural Credit Societies (PACS), the government plans to transform them into Common Service Centres (CSC), offering 300 services in rural areas. The development of 1,000 PACS as CSC has already commenced. Cooperative Department Minister Surendra Yadav highlighted the ‘Mahagathbandhan’ government’s efforts for cooperatives and farmers, expressing the intention to introduce incentives for small and marginal farmers. Yadav commended the profitability and successful implementation of procurement and cooperative schemes by cooperative banks. The announcements were made during an event commemorating the 70th All India Cooperative Week 2023.
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