The move follows a restructuring report submitted by the Indian Institute of Management (Bangalore) to enable AFC provide a range of consultancy services in the agriculture, rural development and allied sectors.

Thirty-odd commercial banks -- including State Bank of India, Bank of Baroda, Bank of India and Union Bank of India -- have an equity stake in AFC. Other institutions like National Bank for Agriculture and Rural Development (Nabard), Industrial Development Bank of India (IDBI), National Housing Bank (NHB) and Exim Bank will now be invited to pick up an equity stake in AFC.

The three decade-old AFC, which posted a net profit of Rs 7.47 lakh in 1997-98 against a loss of Rs 26.52 lakh in the previous fiscal, will, as per the restructuring report, look at strengthening its structure and professional abilities to positionitself as a premier consultancy provider. Other changes include pruning of non-productive staff by introduction of a voluntary retirement scheme and recruitment of qualified personnel. AFC will also set up a geographical information system and remote-sensing application centre in Hyderabad to undertake assignments on planning, monitoring and evaluation in the field of agriculture.

At present, AFC is associated with the setting up of the Crop Contingency Planning Network (CCPNET), and has also been invited by the ministry of agriculture to submit an approach paper on monitoring system network for weather situations and crop conditions in the country.

In 1997-98, AFC completed the computerisation of the Service Area Monitoring and Information Systems (SAMIS) in nine districts of Madhya Pradesh (MP). The organisation has now bagged similar assignments in three more districts of MP.