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Questions and Answers
What is the target percentage for RCBs' share in agricultural credit by FY2047?
What is the target percentage for RCBs' share in agricultural credit by FY2047?
What was the current share of RCBs in agricultural credit before the targeted increase?
What was the current share of RCBs in agricultural credit before the targeted increase?
Which society is NOT mentioned in relation to the cooperative structure in agriculture?
Which society is NOT mentioned in relation to the cooperative structure in agriculture?
What is the purpose of the outlined increase in RCBs' share in agricultural credit?
What is the purpose of the outlined increase in RCBs' share in agricultural credit?
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What is anticipated to happen by the year 2030 concerning RCBs’ share in agricultural credit?
What is anticipated to happen by the year 2030 concerning RCBs’ share in agricultural credit?
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What was the primary purpose behind the formation of dairy cooperatives in India?
What was the primary purpose behind the formation of dairy cooperatives in India?
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What significant impact did dairy cooperatives have on India's milk production?
What significant impact did dairy cooperatives have on India's milk production?
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Which notable leader encouraged the establishment of dairy cooperatives to assist farmers in Gujarat?
Which notable leader encouraged the establishment of dairy cooperatives to assist farmers in Gujarat?
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What percentage of global milk production does India currently contribute?
What percentage of global milk production does India currently contribute?
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Prior to the formation of dairy cooperatives, how were milk producers affected by the market system?
Prior to the formation of dairy cooperatives, how were milk producers affected by the market system?
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What was the role of Morarji Desai and Tribhuvan Das Patel in the establishment of dairy cooperatives?
What was the role of Morarji Desai and Tribhuvan Das Patel in the establishment of dairy cooperatives?
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In which state did dairy cooperatives particularly emphasize milk processing and federation?
In which state did dairy cooperatives particularly emphasize milk processing and federation?
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What transformation was referred to as the ‘White Revolution’ in India?
What transformation was referred to as the ‘White Revolution’ in India?
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Which state has the highest cooperative membership as a percentage of total population?
Which state has the highest cooperative membership as a percentage of total population?
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What is one of the core mandates of NABARD?
What is one of the core mandates of NABARD?
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Which of the following regions in India has lower cooperative membership rates compared to others?
Which of the following regions in India has lower cooperative membership rates compared to others?
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What was the cooperative membership percentage in Karnataka?
What was the cooperative membership percentage in Karnataka?
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What is the estimated cooperative membership percentage in Mizoram?
What is the estimated cooperative membership percentage in Mizoram?
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What action has the government taken for the gram panchayats not covered by a PACS?
What action has the government taken for the gram panchayats not covered by a PACS?
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How many gram panchayats in India are not covered by a PACS?
How many gram panchayats in India are not covered by a PACS?
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Which of the following is NOT a part of NABARD’s role in the cooperative sector?
Which of the following is NOT a part of NABARD’s role in the cooperative sector?
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Which two southern states are mentioned regarding high cooperative membership?
Which two southern states are mentioned regarding high cooperative membership?
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Which of the following represents NABARD's supervisory role?
Which of the following represents NABARD's supervisory role?
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What is one of the fundamental principles of the cooperative movement?
What is one of the fundamental principles of the cooperative movement?
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What does NABARD conduct to ensure the proper functioning of supervised entities?
What does NABARD conduct to ensure the proper functioning of supervised entities?
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What was the purpose of the pilot project launched on NABARD Foundation Day?
What was the purpose of the pilot project launched on NABARD Foundation Day?
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Which area was involved in the pilot project promoting 'Cooperation amongst Cooperatives'?
Which area was involved in the pilot project promoting 'Cooperation amongst Cooperatives'?
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What was the outcome of the pilot project related to 'Cooperation amongst Cooperatives'?
What was the outcome of the pilot project related to 'Cooperation amongst Cooperatives'?
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What is one goal of increasing cooperation among different types of cooperative institutions?
What is one goal of increasing cooperation among different types of cooperative institutions?
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When was the campaign for 'Cooperation amongst Cooperatives' launched across Gujarat?
When was the campaign for 'Cooperation amongst Cooperatives' launched across Gujarat?
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What is one expected outcome of promoting financial transactions between primary dairy cooperative societies and cooperative banks?
What is one expected outcome of promoting financial transactions between primary dairy cooperative societies and cooperative banks?
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Which organizations are subject to NABARD's periodic inspections?
Which organizations are subject to NABARD's periodic inspections?
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Which initiative is part of NABARD's strategy for developing the cooperative sector?
Which initiative is part of NABARD's strategy for developing the cooperative sector?
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What is one key objective of NABARD's initiatives for Rural Cooperative Banks (RCBs)?
What is one key objective of NABARD's initiatives for Rural Cooperative Banks (RCBs)?
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What was a major topic discussed during the National Conference on Best Practices in Rural Cooperative Banks?
What was a major topic discussed during the National Conference on Best Practices in Rural Cooperative Banks?
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Which event focused on promoting fintech engagement among Rural Cooperative Banks?
Which event focused on promoting fintech engagement among Rural Cooperative Banks?
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What was a significant concern highlighted regarding the economy?
What was a significant concern highlighted regarding the economy?
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What technology-related initiative is NABARD not facilitating for RCBs?
What technology-related initiative is NABARD not facilitating for RCBs?
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What was the purpose of the panel discussion held at the Global Fintech Festival 2023?
What was the purpose of the panel discussion held at the Global Fintech Festival 2023?
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How many participants attended the National Conference on Best Practices in Rural Cooperative Banks?
How many participants attended the National Conference on Best Practices in Rural Cooperative Banks?
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What is one likely outcome expected from the fintech workshop organized for RCBs?
What is one likely outcome expected from the fintech workshop organized for RCBs?
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What aspect of human resource management was discussed at the conference?
What aspect of human resource management was discussed at the conference?
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During which dates was the fintech workshop for RCBs held?
During which dates was the fintech workshop for RCBs held?
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Study Notes
PACS vs. Credit and Thrift Societies
- Primary Agricultural Credit Societies (PACS) evolved from thrift-oriented institutions to mainly provide credit, utilizing refinance rather than deposit mobilization.
- Credit and thrift societies mainly rely on member savings to meet their members' credit needs.
Dairy Cooperatives and the 'White Revolution'
- Dairy cooperatives were crucial in transforming India into the largest milk producer globally, contributing to 24% of global milk production.
- The dairy sector accounts for over 5% of India’s GDP, highlighting its economic significance.
- Initially, small milk producers lacked bargaining power and were at the mercy of contractors and middlemen.
- Sardar Vallabhbhai Patel advocated for cooperative societies to empower farmers against exploitation, leading to the establishment of dairy cooperatives with their own processing facilities.
Cooperative Membership in India
- Cooperative membership varies significantly across states, with Kerala leading at 77%, followed by Karnataka at 50%, and Mizoram at a low of 4%.
- There are 18,497 gram panchayats in India without a PACS, prompting government plans to establish cooperatives in these areas.
NABARD's Role in Supporting Rural Cooperatives
- NABARD focuses on the development of rural institutions, providing refinance and developmental support, along with policy and supervisory roles.
- It conducts inspections of regional rural banks and cooperatives to ensure compliance and enhance performance.
Cooperation Among Cooperatives
- NABARD promotes synergies by encouraging collaboration between different cooperative types to strengthen the overall cooperative movement.
- A pilot project initiated in Gujarat aims to facilitate financial transactions among dairy cooperatives and cooperative banks.
National Conference on Rural Cooperative Banks
- A two-day conference in Lucknow focused on sharing best practices among rural cooperative banks in governance, business diversification, and technology adoption.
- Approximately 200 participants attended, with many more viewing via live stream.
Fintech Engagement Initiatives
- NABARD is advancing digital banking solutions in rural areas by promoting collaboration between rural credit cooperatives and fintech companies.
- Workshops and panel discussions aim to create awareness of fintech applications and technological needs within rural cooperatives.
Future Directions
- Emphasis on addressing rural-urban economic disparities, aiming to raise the share of agriculture credit from 11% to 20% by 2030 and 40% by FY2047.
- Stakeholders are encouraged to improve the income-generating capabilities of rural cooperatives to ensure equitable growth.
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Description
This quiz explores the distinctions between Primary Agricultural Credit Societies (PACS) and credit and thrift societies. It emphasizes their operational structures, focusing on member savings and credit distribution. Test your knowledge on the evolution and functions of these institutions.
