Management should also design and implement effective internal controls and have a robust process for monitoring exposures. Standards should be just as high in this area as they are for risk measurement and data maintenance.
There were 92,996 Primary Agricultural Credit Societies (PACS) as on March 31, 2014 at the grass root level catering to the credit requirements of the members but also providing several nonfinancial services like input supply, storage and marketing of produce, supply of consumer goods, etc. 4. The journey has not been smooth for the cooperative banking structure.