The Bhalpahari Taratand Primary Agricultural Cooperative Credit Society (PACS) in Gandey Block of Giridih District has emerged as a model of rural financial empowerment. Operating in a region historically affected by Naxal influence, low development indicators, migration pressures, and inadequate infrastructure, the PACS has become a vital institution for communities with limited access to reliable and affordable credit.
Also Read: PACS in Jharkhand Set for Transformation: Government Targets Increased Membership and Digitalisation
With more than 900 members, the society has steadily strengthened its role as a trusted financial anchor for underserved households.
NABARD Support Spurs Infrastructure and Service Upgrade
Under the Cooperative Development Fund of NABARD, the PACS received Rs. 2.36 lakh in 2022–23 to enhance its infrastructure and service delivery. This assistance enabled the society to modernize its operations through:
- Installation of a secure cash counter
- Upgraded furniture for better customer facilitation
- Power backup systems
- CCTV surveillance for enhanced security
- Currency counting machine for smoother transactions
These upgrades have not only streamlined daily operations but also improved transparency, safety, and overall customer experience.
Affordable Credit and Doorstep Banking Transform Rural Livelihoods
The institution now offers accessible loans at competitive interest rates, including business loans at 9 percent. The introduction of doorstep banking services has further expanded its reach to remote households, reducing villagers’ dependence on exploitative informal lenders.
These interventions have significantly lowered the cost of doing business for local entrepreneurs and farmers, while strengthening trust in formal financial systems.
Strong Financial Growth Reflects Rising Community Confidence
The PACS has demonstrated notable year-on-year growth, signalling increased community engagement and financial stability. Key performance indicators include:
- Deposits rising from Rs. 7.35 crore to Rs. 7.75 crore
- Advances increasing from Rs. 3.5 crore to Rs. 3.81 crore
With a diverse portfolio of savings accounts, recurring deposits, fixed deposits, and multiple loan products, the PACS is successfully driving financial inclusion in one of Jharkhand’s most underserved pockets.
A Model for Strengthening Rural Economies
By bridging financial gaps and delivering quality services in a challenging socio-economic landscape, the Bhalpahari Taratand PACS stands as a powerful example of how cooperatives can fuel rural development, restore community trust, and improve livelihoods at scale.
