(THE NEWSMAN OF INDIA.COM) Punjab & Sind Bank has taken a significant step towards strengthening India’s rural economy by signing a Memorandum of Understanding (MoU) with the National Cooperative Development Corporation (NCDC) for financing agricultural infrastructure facilities through Primary Agricultural Credit Societies (PACS). The agreement was formalized in New Delhi in the presence of Swarup Kumar Saha, Managing Director & CEO of Punjab & Sind Bank, and Pankaj Kumar Bansal, Managing Director of NCDC.

The collaboration aims to provide enhanced financial support to PACS, which form the grassroots network of India’s cooperative credit structure and play a vital role in providing timely credit and services to farmers. By financing agri infrastructure projects through PACS, the partnership will help boost storage, processing, and distribution facilities, thereby strengthening the agricultural value chain and reducing post-harvest losses.

Speaking on the occasion, Punjab & Sind Bank MD & CEO Swarup Kumar Saha highlighted the importance of the agreement in bridging the financial needs of rural cooperatives. He emphasized that this collaboration aligns with the government’s vision of doubling farmers’ income by providing them with better access to credit and infrastructure. NCDC MD Pankaj Kumar Bansal also noted that the tie-up would enhance the cooperative sector’s capacity to implement sustainable agri-business models and promote inclusive rural growth.

The initiative is expected to create a multiplier effect by enabling PACS to extend support to small and marginal farmers, encourage adoption of modern farming practices, and develop integrated value chains across rural India. By pooling institutional strength and financial expertise, Punjab & Sind Bank and NCDC aim to drive rural prosperity while contributing to India’s broader agricultural reforms.

This MoU marks another milestone in the cooperative banking and development ecosystem, reflecting a strong public-sector commitment to fostering inclusive growth, financial empowerment, and sustainable agricultural infrastructure development.