The District Credit Cooperative Bank (DCCB) is all set to enter into expansion mode.
As per plan, it will extend loans to as many 50 Primary Agriculture Societies (PACs) to commence paddy procurement from the current season. The procurement centres will be established in all these PACs in the next few weeks so that farmers can sell their produce locally, avoiding middlemen and banks can get business as well.
For this, the DCCB will hold discussions with Markfed and Civil Supplies Departments and make an arrangement for purchasing agriculture produce from PACs.
Disclosing these details at a press conference here on Wednesday, DCCB Chairman M. Jaipal Reddy said that the same system would be followed where maize cultivation is high.
He said that quality seeds would also be sold to farmers from PACs and these activities would increase business for banks thereby making PACs eligible for more loans from NABARD.