Home News Govt advises ‘saturated’ Credit Co-operative societies to diversify into other business activities

Govt advises ‘saturated’ Credit Co-operative societies to diversify into other business activities

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Digital Goa, Nov 30 – Goa govt has issued an advisory to Credit Co-operative societies to diversify into other business activities considering significant increase in number of such societies in Goa. Credit societies have been advised to alter their classification from resource society to Service Resource Society or Primary Agricultural Credit Societies (PACS) or multipurpose and avail all the benefits provided by the Central Ministry for diversification of business and create additional business avenues. Under the fold of multi-purpose societies various business initiatives such as Common Service Centres, Farmer Producers Organizations (FPOs) , LPG distribution, bulk consumer petrol pump operated by PACS into retail outlet, Janaushadhi Kendras, fertilizer distribution centers, Membership of National-Multistate Co-operative Societies for exports, certified seeds, organic farming; Distribution of chana dal under the brand “Bharat Dal” through Co-operative Federation are available to the multipurpose societies.