Shah conveyed his thoughts in a written reply to a Rajya Sabha query. The Minister further stated that a Rs 2,516 crore centrally financed project for the computerization of 63,000 functional PACS and Large Area Multipurpose Society (LAMPS) across the country is now underway.
The project comprises transferring all operating PACS to common ERP (Enterprise Resource Planning) software and connecting them to NABARD via State Cooperative Banks (StCBs) and District Central Cooperative Banks. (DCCBs).
According to the Minister, Rs 11.28 crore has been made available to Uttar Pradesh under this Project for the computerization of 1,539 PACS.
"NABARD has established Project Monitoring Units (PMUs) at the Central and State Levels," the Minister stated, adding that "development of software has begun by the National Level Project Software Vendor (NLPSV) selected by NABARD."
"The expected benefits of computerizing the PACS project include, among other things, increasing the efficiency of their operations, ensuring timely loan disbursement, lowering transaction costs, reducing payment imbalances, seamless accounting with DCCBs and StCBs, and increasing transparency," he said.
"The implementation of a Common Accounting System (CAS) and Management Information System (MIS) would enable PACS to carry out their operations online and obtain refinance and loans from NABARD through DCCBs and StCBs for their various activities," Shah added.
