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Thursday, September 3, 2009
PACS are the backbone of short-term cooperative credit structure. Out of 5255 PACS in the state, 5197 PACS advanced loan to their members during 2006-07 and 4971 PACS had outstanding loans exceeding Rs 10 lacs as on 31 March 2008. The working capital of PACS as on 31 March 2008 stood at Rs 4181.33 crores and 1985 PACS working as mini banks were collecting deposits from their members. Total deposits of these mini banks stood at Rs 308.20 crores as on 31 March 2008 which rose to Rs 505.35 crores in 12 months. In 2009, it is expected that more than 4150 PACS would have booked profit. Avinas;\ Ranvah, MD, RSCB, said: "Our corporate mission is to become a strong and competitive cooperative bankin
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