authors
Puspa Rani, Manisha Kumari and Karan Singh

abstract
Primary Agricultural Credit Societies (PACS) in Haryana stand as crucial pillars of rural finance, shaping agricultural credit delivery at the grassroots. Over the past decade, they have expanded loan disbursements significantly, reflecting their strong outreach to small and marginal farmers. Yet, beneath this growth lies a fragile financial foundation. Rising loan overdues, dipping recovery rates and shrinking profitability reveal systemic weaknesses in governance, credit discipline and capital formation. Despite modernization and government support, only a fraction of societies remain viable. The performance of PACS in Haryana thus emerges as a blend of promise and peril, demanding urgent reforms for sustainable rural prosperity.