Introduction of high technology in PACS in Odisha to combine the short-term credit structure with the core banking network has failed despite wasting a lot of time and spending as much as Rs 51.36 crore on the program, reports New Indian Express.
Since PACS are still basic and gross in their functioning many instances of misappropriation during the disbursement of crop loans have come to light.
A large number of PACS functionaries are involved in swindling farmers’ money. Sources say all irregularities in PACS are entirely due to non-computerization.