Question

Bank loans to PACS is considered as direct finance for agricultural purpose under the priority sector lending specified by the Reserve Bank of India.
What is the expanded form of PACS ?

• A. Premier Agricultural Credit Societies
• B. Primary Agricultural Credit Services
• C. Permanent Agricultural Credit Socities
• D. Primary Agricultural Credit Societies
• E. Provisional Agricultural Credit Societies

Answer 1

The correct option is D Primary Agricultural Credit Societies

A Primary Agricultural Credit Society (PACS) is a basic unit and smallest co-operative credit institution in India.