Village Level Cooperative Credit Societies of Assam: A Case Study of GPSS-PACS in Kamrup and Kamrup Metropolitan Districts

Abstract

This thesis studies village-level cooperative credit societies of Assam in particular reference to Kamrup and Kamrup Metropolitan districts. The village cooperative credit societies are old institutions engaged in credit activities at the village level. In many states, including Assam, rural cooperatives predate the year of Indian Independence. Post-independence, the village-level credit societies started functioning as Primary Agricultural Credit Societies (PACS). The PACS are multipurpose cooperative societies at the village level formed under the Cooperative Credit Societies Act 1904 and strengthened under the Banking Regulation Act 1949. PACS perform various credit-related activities such as the deposition of savings, credit supply, providing support for businesses, as well as supply of consumer durables to its members.