Jehanabad: Villagers in Bihar will no longer have to travel far to deposit or withdraw money. A new banking facility has started in Jehanabad district, where people can now use their ATM cards at Primary Agricultural Credit Societies (PACS) to access cash. With this service, they can deposit or withdraw up to Rs 20,000 at a time. The Co-operative Bank has already provided micro ATMs to 14 PACS, and the remaining 69 PACS will soon be covered.
This initiative is expected to save both time and effort for rural households. Earlier, people had to go to towns or markets to use bank ATMs, many of which were often closed or out of cash. Now, the facility is available right at the panchayat level, making it easier for farmers and villagers to handle their daily financial needs. Since one PACS is present in each panchayat, the reach of this scheme is wide. At the moment, it is being run as a pilot project, but authorities plan to increase the transaction limit in the future.
The scheme is being managed by NABARD and monitored by Magadh Central Bank. It has already started in several blocks, including Jehanabad, Kako, Modanganj, Ghosi, Ratni Faridpur and Hulasganj. In Makhdumpur block, the process of checking documents is under way to start the service soon. For smooth functioning, an account has been opened in the name of each PACS manager, who will operate the system from an office at the PACS godown.
There are also rules to ensure the system runs properly. Money collected through the PACS ATM must be deposited in the bank within 24 hours. If this is not done, the micro ATM will automatically stop working the next day. Officials say this arrangement is similar to the customer service points (CSPs) that already exist for banks. Among the PACS where the service has started are Kinari and Kalpa in Jehanabad, Sulemanpur and Amthuwa in Kako, Bandhuganj and Saisthabad in Modanganj, as well as several villages in Ghosi, Ratni Faridpur and Hulasganj.
