Mayiladuthurai PACS sanctions loans totalling ₹71.75 crore to over 2,200 beneficiaries

The Primary Agricultural Cooperative Credit Society (PACS) has disbursed ₹71.75 crore to 2,293 beneficiaries across Mayiladuthurai this year, aiming to empower women’s self-help groups (SHGs) and fostering entrepreneurship among agricultural labourers

The Primary Agricultural Cooperative Credit Society (PACS) has disbursed ₹71.75 crore to 2,293 beneficiaries across Mayiladuthurai this year, aiming to empower women’s self-help groups (SHGs) and fostering entrepreneurship among agricultural labourers.

According to A. Thayala Vinayagan Amulraj, Joint Registrar of the Department of Cooperatives, the cooperative loans have been instrumental in transforming the livelihoods of women across the district. “Our target for this financial year is ₹82 crore, which we expect to achieve within this month,” he said.

Speaking to The Hindu, T. Vetrimani, a member of the Ganapathy SHG in Vazhuvur Panchayat, who shared her experience, said: “For the past three years, we have been availing loans from PACS. Since we repaid our previous loans ahead of time, our group was sanctioned ₹6 lakh this year, benefiting 12 of our members.” The loan enabled her to purchase cattle, generating an additional monthly income of ₹7,000.

Priority was given to women’s SHGs engaged in small businesses such as dairy farming, food processing, and tailoring. “Till last year, a new SHG would receive ₹2 lakh a year. This year, the amount has been increased to ₹3 lakh,” Mr. Amulraj said.

Unlike regular cooperative bank loans, which carry an interest rate of 10.75%, loans provided to SHGs are given at a concessional rate of 7%.

Additionally, the department collaborates with the Mahalir Thittam programme, offering entrepreneurship training to SHGs, helping them scale their small businesses. “As Mayiladuthurai is predominantly an agricultural district, these loans provide an additional source of income for women beyond agricultural work,” Mr. Amulraj said.