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New cooperative policy: States suggest FDI, age limit for board members

According to the Ministry, there are about 8.54 lakh cooperative societies. They include 95,000 PACS, which are societies at the village level, both credit and non-credit. Currently, only 63,000 PACs are operational.


Allow foreign direct investment (FDI) in the cooperative sector, particularly in Primary Agricultural Cooperative Societies (PACS) to improve infrastructure; fix an upper age limit of 70 years for board members in cooperative societies.

These were two key suggestions put forward by states to the Centre during the two-day national conference on a new cooperative policy, which was held in Delhi on April 12-13, The Indian Express has learnt.

According to sources in the Ministry of Cooperation, the FDI suggestion came from Haryana while the recommendation of an age limit was put forward by Maharashtra.