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What is the primary function of a Primary Agricultural Credit Society (PACS)?
  • a)
    Providing long-term loans to farmers
  • b)
    Serving as the apex body in the cooperative credit structure
  • c)
    Offering short-term and medium-term agricultural loans to farmers
  • d)
    Managing financial operations at the state level
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
What is the primary function of a Primary Agricultural Credit Society...
The primary function of a Primary Agricultural Credit Society (PACS) is to provide short-term and medium-term agricultural loans to farmers for various agricultural and farming activities. PACS play a crucial role in facilitating timely access to capital for farmers at the start of their agricultural activities, with minimal paperwork and quicker processing compared to traditional banks.
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What is the primary function of a Primary Agricultural Credit Society (PACS)?a)Providing long-term loans to farmersb)Serving as the apex body in the cooperative credit structurec)Offering short-term and medium-term agricultural loans to farmersd)Managing financial operations at the state levelCorrect answer is option 'C'. Can you explain this answer?
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