Arunachal: APSCB commemorates inauguration of 10,000 newly formed M-PACS Dairy, and Fishery Cooperative Societies
NAHARLAGUN– In a significant step towards strengthening rural economic prosperity, a state-level event was held at the Head Office of Arunachal Pradesh State Cooperative Bank ( APSCB ) , Naharlagun, to commemorate the inauguration of 10,000 newly formed Multipurpose Primary Agricultural Credit Societies (M-PACS), Dairy and Fishery Cooperative Societies across the nation in a hybrid mode.
This initiative, launched by the Ministry of Cooperation, Government of India, aims to ensure that every Panchayat and village is covered by vibrant and viable cooperative societies, providing opportunities for inclusive and balanced regional growth.
The cooperative movement, a cornerstone of India’s rural economy for over a century, has been pivotal in providing livelihoods and financial safety nets to millions through a community-based approach. Currently, approximately 29 crore individuals are directly linked to the cooperative sector in India.
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Recognizing the critical role of grassroots cooperative societies, Hon’ble Prime Minister Narendra Modi had called for their transformation into dynamic economic entities, in line with the vision of ‘Sahakar-se-Samriddhi.’
The national-level inauguration of these cooperative societies was held in Delhi on December 25, 2024. Coinciding with the same, the state-level event in Naharlagun witnessed the participation of Secretary Cooperation, Government of Arunachal Pradesh, General Manager, NABARD; Joint Registrar of Cooperative Societies (JRCS), Government of Arunachal Pradesh; Managing Director of Apex Bank and other senior officials from NABARD, the Cooperation Department, and the Bank. Participation of district level officers of Cooperation departments and members of newly formed cooperative society was facilitated through video conferencing from respective District Cooperation Offices.
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During the event, the dignitaries underscored the transformative potential of cooperative societies in fostering economic growth, financial inclusion, and regional equity. They highlighted the Ministry of Cooperation’s various initiatives aimed at strengthening the cooperative ecosystem, including the establishment of M-PACS as multipurpose entities offering diverse services and support to rural communities.
A presentation was delivered to attendees, emphasizing the pivotal role of cooperatives in national development and showcasing key initiatives by the Ministry of Cooperation. Deliberation was also held on ‘Cooperation among Cooperatives’. As part of the event, 04 Kisan Credit Card (KCC) loans amounting to Rs. 4 lakh were sanctioned to beneficiaries from Lower Subansiri and Papum Pare districts, demonstrating the tangible benefits of cooperative engagement.
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The event also celebrated the collaborative efforts of NABARD and the Cooperation Department in enabling the formation and operationalization of these societies, ensuring their sustainability and impact on rural livelihoods. Cooperative members expressed their enthusiasm for the initiative, which promises to enhance their economic resilience and unlock new opportunities for growth.
This milestone marks a major stride in realizing the vision of ‘Sahakar-se-Samriddhi’ and reinforces the commitment of the Ministry of Cooperation, NABARD, and the State to empower rural communities through cooperative development.
