Governance
Overview
Effective governance ensures transparency, accountability, and compliance in PACS, fostering trust and enabling access to schemes like those from NABARDNational Bank for Agriculture and Rural Development, supporting PACS with funding and training..
Key Strategies
- Democratic Elections: Elect board members annually.
- Transparent Records: Maintain loan and savings registers.
- Regular Audits: Conduct annual audits for compliance.
- Member Inclusion: Ensure representation of small and marginal farmers.
- Conflict Resolution: Resolve disputes within 7 days.
- External Linkages: Partner with NABARD and banks.
Implementation Steps
- Draft bylaws aligned with cooperative laws.
- Elect a management committee within 30 days.
- Train board members on governance (100% trained in 3 months).
- Monitor KPIs like audit compliance (100%) and meeting attendance (90%).
- Publish annual financial reports.
- Register with NABARDNational Bank for Agriculture and Rural Development, offering support for PACS. for funding.
Case Study
The Kisan Credit PACS in Haryana achieved 95% audit compliance and secured ₹2 crore in NABARD funding, expanding credit access for 500 farmers.
Tools & Resources
Metrics for Success
- Audit compliance rate:
- Meeting attendance rate:
- Member satisfaction score:
- Dispute resolution time: