NEWS – Primary Agricultural Credit Societies (PACS) have been allowed by the Government to operate Pradhan Mantri Bhartiya Jan Aushadhi Kendras (PMBJK) under the Pradhan Mantri Bhartiya Jan Aushadhi Pariyojana

PRIMARY AGRICULTURAL CREDIT SOCIETIES (PACS)

• Cooperative credit institutions at the grassroots level in India, specifically in the agriculture sector
• Play a crucial role in providing credit and financial services to rural farmers and agricultural workers
• They are typically registered under the Cooperative Societies Act and are governed by specific cooperative laws
• Membership – primarily farmers and individuals involved in agriculture-related activities in the local community.
• The membership is open to all eligible individuals, and members usually have voting rights in decision-making processes.
• PACS also encourage members to save and deposit money with the society. These savings contribute to the overall capital base of the society + disburse short-term crop loans to farmers for seasonal agricultural operations
• The first Primary Agricultural Credit Society (PACS) in India was established in 1904 in Thirurangadi, Malabar (present-day Kerala). The cooperative movement gained momentum with the efforts of pioneers like Sir Frederick Nicholson, who introduced the concept of cooperative credit to alleviate the rural credit problem

PRADHAN MANTRI BHARTIYA JAN AUSHADHI KENDRAS (PMBJAKS)

• Under Pradhan Mantri Bhartiya Jan Aushadhi Pariyojana (PMBJP)
• Aim to make quality generic medicines accessible and affordable to the masses, especially to those who might face financial constraints in purchasing expensive branded medications
• Launched to promote the use of generic medicines and reduce healthcare expenses for the common man
• It was started in September 2015