All India Rural Credit Survey Committee ( AIRCSC )

• All India Rural Credit Survey Committee      ( AIRCSC ) appointed by Reserve Bank of India 

• AIRCSC appointed in the year 1951

• AIRCSC  submitted the report in 1954

• AIRCSC report known as the Magna Carta of  indian co operative movement 

• AIRCSC is known as Integrated scheme of rural credit 

• Members of AIRCSC were AD Gorwala, DR Gadgil, B Venkittappaih and NSR Sasthri

• Chairman of AIRCSC was A D Gorwala

• Member secretary of AIRCSC was NSR Sasthri 

• " Co operation failed but it must succeed " is coined by All India Rural Credit Survey Committee 

• The main recommendations of AIRCSC were; 

                 1 . Sbi formation 

                 2 . Crop loan system 

                 3 . Linking of credit with

                      marketing 

                4 . State partnership fund 

                5 . National warehousing board

                6 . Large sized co operatives 

                7 . Audit is necessary to co operative

                     societies 

                8 . AIRCSC recommended to create 

                     3 funds under Govt of India, 

                     they are; 

           a . National Co operative Development

                Fund 

           b . National Warehousing fund 

           c .  National Agriculture and credit 

                 fund

               9 . AIRCSC recommended to create 

                 two fund  under RBI

           a. National Agriculture Credit Fund 

               for long term operation 

          b. National Agriculture Credit 

               Stabilization Fund

      

• National Co operative Development Fund now administrated by NCDC 

• National Agriculture Credit Fund for      long term operation was created in 1958 

• National Agriculture and Credit Fund for long term operation is maintained by NABARD 

• National Agriculture and Credit Fund for long term operation is maintained for long term loan to co operatives and also for purchasing debentures of State CARD Bank 

• At present National Agriculture Credit  Fund known as National Rural Credit Stabilization Fund

• National Rural Credit Stabilization Fund is maintained by NABARD for giving short term loan and medium term loan to co operatives.