COP-5 Financial Assistance to Agricultural Credit Co-operative Banks (PACS/LAMPS) for Reconstruction and Reestablishment (General/Tribal Area)

Description
The scheme "COP-5 Financial Assistance to Agricultural Credit Co-operative Banks PACS/LAMPS for Reconstruction and Reestablishment General/Tribal Area " introduced by the Agriculture, Farmers Welfare and Cooperation Department, Gujarat, aims to make economically weak but functionally efficient PACS/LAMPS financially viable. These societies play a foundational role in the three-tier cooperative credit system, and their performance impacts District and State Cooperative Banks. The scheme incentivizes societies based on their growth in credit disbursement, loan recovery, and deposit mobilization over the past three years two years for LAMPS .

Exclusions
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Benefits
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• **Incentive admissible over and above the average amount of the last three years****Percentage of the grant of incentive on the excess amount**For growth from 10% to 15% 1 %For growth above 15% and up to 20% 1.5 %For growth above 20% 2% or a maximum of ₹.50,000/- whichever is less (on deposits up to a ₹2,00,000/- whichever is less)<br>
• > **Note:** The benefit of the scheme is available only once in a financial year.

Eligibility Criteria
1. The applicant must be a registered Agricultural Co-operative Credit Society, either a Primary Agricultural Credit Society (PACS) or a Large-sized Adivasi Multi-Purpose Society (LAMPS).
2. The society must have been operational and performing for the required duration:
3. - PACS: At least the last three years.
4. - LAMPS: At least the last two years.
5. The applicant must provide performance data for the relevant period, showing:
6. - Growth in credit disbursement (short and medium-term).
7. - Improvement in loan recovery rates.
8. - Increase in deposit collection.

Application Process
Step 1: Step 1: The concerned Agricultural Credit Co-operative Society must prepare a proposal.
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Step 1: The concerned Agricultural Credit Co-operative Society must prepare a proposal.

Step 2: Step 2: The proposal should be submitted to the District Registrar Office.
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Step 2: The proposal should be submitted to the District Registrar Office.

Step 3: Step 3: The application should include all required supporting documents.
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Step 3: The application should include all required supporting documents.

Step 4: Step 4: The Registrar will verify and forward the eligible applications for financial assistance under the scheme.
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Step 4: The Registrar will verify and forward the eligible applications for financial assistance under the scheme.

Required Documents
• Growth and recovery records of the last three years (two years for LAMPS).
• Audit reports or financial statements.
• Proof of credit disbursed and deposits collected.
• Society registration certificate.
• Identity proof of society office bearers.
• Bank account details of the society.
• Any other documents as required.

Frequently Asked Questions
Q: What is the objective of this scheme?
A: The scheme provides financial assistance to Primary Agricultural Credit Societies (PACS) and Large-sized Agricultural Multi-Purpose Societies (LAMPS) in General and Tribal areas to help them restructure and reestablish their operations.
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Q: Who is eligible to apply for this scheme?
A: Only registered Agricultural Co-operative Credit Societies (PACS/LAMPS) that have been operational for the last three years (or two years in the case of LAMPS) are eligible to apply for this scheme.
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Q: How often can a society avail the benefits of the scheme?
A: A society can avail the benefits of the COP-5 scheme only once during a financial year.
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Q: What is the minimum operational period required for a society to apply?
A: A PACS must be operational for at least three years, and a LAMPS must be operational for at least two years to be eligible for the scheme.
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Q: What kind of financial performance is rewarded under the scheme?
A: Societies that show growth in short and medium-term credit disbursement, loan recovery, and deposit collection over the previous years are rewarded under the scheme.
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Q: What is the maximum financial assistance that can be availed through this scheme?
A: The maximum financial incentive under this scheme is 2% of the excess amount or ₹50,000/-, whichever is less, applicable on deposits up to ₹2,00,000/-.
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Q: Are societies located in Tribal areas also eligible under this scheme?
A: Yes, the scheme is applicable to societies in both General and Tribal areas.
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Q: Can newly registered societies apply for the scheme?
A: No, newly registered societies are not eligible. The society must be operational for a minimum of three years (or two years for LAMPS).
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Q: Where should a society submit its application for the scheme?
A: The application must be submitted to the District Registrar’s Office along with the required supporting documents.
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Q: Is the scheme available through an online application process?
A: No, there is no online application process. All applications must be submitted in person through the District Registrar’s Office.