BANKING AFFAIRS

Detailed explanation-1: -The short-term co-operative credit structure operates with a three-tier system – Primary Agricultural Credit Societies (PACS) at the village level, Central Cooperative Banks (CCBs) at the district level and State Cooperative Banks (StCBs) at the State level.

Detailed explanation-2: -(i) NABARD. (ii) State Cooperative Banks. (iii) Central Cooperative Banks.

Detailed explanation-3: -The short-term co-operative credit institutions have a three-tier structure comprising State Co-operative Banks (StCBs), Central Co-operative Banks (CCBs), and Primary Agricultural Credit Societies (PACSs) which are not banks but only societies.

Detailed explanation-4: -The First meeting of the Expert Committee constituted by the Ministry of Cooperation to conduct a Study on “Relevance, applicability and retention of three-tier Short Term Cooperative Credit Structures (STCS)” was held on Monday at the NABARD’s headquarters in Mumbai.

Detailed explanation-5: -Co-operative Credit Structure means and includes Primary Agricultural Credit Co-operative Societies by whatever name called, Central Co-operative Banks, State Co-operative Bank, Agricultural and Rural Development Banks and State Agricultural and Rural Development Bank.