Sarkari Yojana
COP-5 Financial Assistance to Agricultural Credit Co-operative Banks (PACS/LAMPS) for Reconstruction and Reestablishment (General/Tribal Area)
About COP-5 Financial Assistance to Agricultural Credit Co-operative Banks (PACS/LAMPS) for Reconstruction and Reestablishment (General/Tribal Area)
Introduced by the Agriculture, Farmers Welfare and Cooperation Department, Gujarat, the “COP-5 Financial Assistance to Agricultural Credit Co-operative Banks (PACS/LAMPS) for Reconstruction and Reestablishment (General/Tribal Area)” seeks to turn PACS/LAMPS that are economically weak yet run efficiently into financially viable bodies. These societies form the base of the three-tier cooperative credit structure, so their health affects District and State Cooperative Banks too. Incentives are linked to how much a society has grown its credit disbursement, loan recovery, and deposit mobilization over the previous three years (two years in the case of LAMPS).
Scheme Details
Eligibility Requirements
To qualify for COP-5 Financial Assistance to Agricultural Credit Co-operative Banks (PACS/LAMPS) for Reconstruction and Reestablishment (General/Tribal Area), applicants must satisfy the following conditions:
Applicants must be registered Agricultural Co-operative Credit Societies…
Applicants must be registered Agricultural Co-operative Credit Societies - either a Primary Agricultural Credit Society (PACS) or a Large-sized Adivasi Multi-Purpose Society (LAMPS).
The society must have been functioning and performing…
The society must have been functioning and performing for the minimum period below:
PACS: no less than the last three years.
LAMPS: no less than the last two years.
Performance data for that period must be furnished,…
Performance data for that period must be furnished, demonstrating:
Higher credit disbursement (short and medium-term).
Better loan recovery rates.
Growth in deposits collected.
Benefits Provided
COP-5 Financial Assistance to Agricultural Credit Co-operative Banks (PACS/LAMPS) for Reconstruction and Reestablishment (General/Tribal Area) provides the following benefits to eligible applicants:
Incentive payable on the amount exceeding the average of the last three years:
Growth from 10% to 15%
Incentive grant on the excess amount: 1 %
Growth above 15% and up to 20%
Incentive grant on the excess amount: 1.5 %
Growth above 20%
Incentive grant on the excess amount: 2% or a maximum of ₹.50,000/- whichever is less (on deposits up to a ₹2,00,000/- whichever is less) Note: A society can avail the scheme benefit just once per financial year.
Documents Required
Applicants should keep the following documents ready before starting the application:
Records of growth and recovery for the previous…
Records of growth and recovery for the previous three years (two years in the case of LAMPS).
Audit reports or statements of accounts
Audit reports or statements of accounts.
Evidence of credit disbursed and deposits mobilised
Evidence of credit disbursed and deposits mobilised.
Certificate of registration of the society
Certificate of registration of the society.
Identity documents of the society's office bearers
Identity documents of the society's office bearers.
Particulars of the society's bank account
Particulars of the society's bank account.
Other documents, if called for
Other documents, if called for.
How to Apply
Offline Application
Applicants can apply for COP-5 Financial Assistance to Agricultural Credit Co-operative Banks (PACS/LAMPS) for Reconstruction and Reestablishment (General/Tribal Area) through the offline application process outlined below.
The Agricultural Credit Co-operative Society concerned draws up…
The Agricultural Credit Co-operative Society concerned draws up a proposal.
This proposal is filed with the District Registrar…
This proposal is filed with the District Registrar Office.
Every necessary supporting document must accompany the application
Every necessary supporting document must accompany the application.
The Registrar checks the applications and sends the…
The Registrar checks the applications and sends the eligible ones forward for assistance under the scheme.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.