Origin of Primary Agricultural Cooperative Credit Societies (PACS)
The establishment of Primary Agricultural Cooperative Credit Societies (PACS) was a direct result of specific legislative action aimed at fostering cooperative finance in India.
Understanding Cooperative Legislation for PACS
The primary legislation that enabled the formation and regulation of cooperative societies, specifically catering to agricultural credit needs, was the Co-Operative Societies Act, 1904. This Act laid the groundwork for organizing cooperative entities focused on providing financial support to farmers and rural communities.
Key Act for PACS Formation
- The Co-Operative Societies Act, 1904 is recognized as the foundational law that facilitated the creation of cooperative credit societies.
- This legislative framework was crucial for structuring PACS and enabling their operations in rural areas.
While subsequent developments and committees influenced the broader cooperative movement, the initial legal impetus for PACS came from the 1904 Act.
Similar Questions
- Consider the following related to approaches of organisation :
A. Authoritative approach : Equal distribution of power
B. Participative approach : Unequal distribution of power
C. Directive approach : Objectives of organisation are chosen by specialists outside the target group
D. Non-directive approach : Objectives chosen soley by the people
E. Democratic approach : Decisions are made by leader of the organisation without followers participation
Choose the correct answer from the options given below : - Consider the following with respect to international trade and select correct one.
A. General Agreement on Tariff and Trade (GATT) came into force on 01.01.1948
B. GATT disagreed to apply principle of 'Most Favoured Nations (MFN)'
C. Dunkel draft is associated with World Trade Organisation
D. GATT was implemented to impose trade barrier in international market.
E. World Trade Organisation came into effect on 01.01.1995.
Choose the correct answer from the options given below : - Select the correct statements related to types of credit loan.
A. Chattle Loans : Loans obtained from Pownbrokers
B. Mortgage : Movable property that is pleddged to secure a loan
C. Collateral Security : Transfer of interest in a specific immovable property
D. Secured loans : Loan advanced without security by borrower
E. Personal Security : Borrower himself stands as the gurantor.
Choose the correct answer from the options given below : - Match List - I with List - II.
List - I (Relationship) List - II (Products) A. Complementary Products I. Meat and wool B. Competitive Products II. Paddy Straw and Lives stock C. Supplementary Products III. Paddy and Sugarcane D. Joint Products IV. Crop and Dairy Product
Choose the correct answer from the options given below : - Which of the following is not a main component of Agreement on Agriculture (AOA) ?
- If a business firm wants to introduce a new products in the market, who they should focus (customer segment) to diffuse the product among the society ?
- Match List - I with List - II.
List - I (Concepts of Community Development) List - II (Significance) A. 'Movement' by Cambridge University (1948) I. By Which People involved in improving their social condition B. 'Method' by Taylor and Others (1965) II. Change from traditional way to progressive way of living C. 'Process' by Mukerji (1967) III. Accomplishing certain activities D. 'Programme' by Mukerji (1967) IV. For better living of rural people
Choose the correct answer from the options given below : - Match List - I with List - II.
List - I (Administrative Function) List - II (Description) A. Planning I. Establishing intentional structure of roles for people B. Organising II. Keeping the organisation position filled C. Staffing III. Checking the function of organisation against set roles D. Controlling IV. Blue print of activities to be carried out
Choose the correct answer from the options given below : - What is the name of famous book written by 'Father of Economics'. Adam Smith ?
- Arrange the following initiatives in order of their implementation in India.
A. Lab to Land Programme
B. National Demonstration
C. Operational Research Project
D. Krishi Vigyan Kendra
E. Reorganised KVK system
Choose the correct answer from the options given below :
Important Questions from Mixed Topic (CUET PG)
- Who was the founder of Bolshevik Communist party?
- What is the key guide to statecraft in the realist tradition?
- Chronologically arrange the events in the Cold War period.
A. Berlin Wall is constructed
B. Communist China joins the UN
C. Soviet invasion of Czechoslovakia
D. Berlin Blockade
Choose the correct answer from the options given below: Morgenthau's principles of political realism are:
A. Politics is rooted in permanent and unchanging human nature which is basically self centred, self-regarding and self-interested
B. Politics is an autonomous sphere of action and cannot therefore be reduced to morals
C. International Politics is an arena of conflicting self-interests
D. The ethics of international relations is situational ethics which is very different from private morality
Choose the correct answer from the options given below:Who among the following political thinkers consider the anarchical self help system to be a compelling factor for States to maximise their relative power positions?
