Q. Consider the following statements:
1.Primary Agricultural Cooperative credit societies (PACS) constitute the lowest tier of the three-tier Short-term cooperative credit (STCC) in the country.
2.PACS fall within the jurisdiction of the union government. 
3.PACS is a village-level institution that works directly with rural residents.
Which of the statements given above is/are correct?

[A] 1 and 2 only

[B] 1 only

[C] 1 and 3 only

[D] 2 only

Answer: C
Notes:

Statement 1 and 3 are correct. PAC) constitute the lowest tier of the three-tier Short-term cooperative credit (STCC) in the country. PACS is a village-level institution that works directly with rural residents.

Statement 2 is incorrect. PACS fall within the jurisdiction of the state governments.

Source: ForumIAS