National Cooperative Development Corporation (NCDC)

Source: TOI

Context: The Union Cabinet has approved a ₹2,000 crore grant to the National Cooperative Development Corporation (NCDC) over four years.

About National Cooperative Development Corporation (NCDC):

• What it is? NCDC is a statutory body that promotes and finances cooperative development in agriculture, rural industries, and allied sectors.

• NCDC is a statutory body that promotes and finances cooperative development in agriculture, rural industries, and allied sectors.

• Established in: Set up in 1963 under an Act of Parliament and functions under the Ministry of Cooperation.

• Headquarters: Based in New Delhi, with 18 regional and state offices across India.

• Objective:

• Promote self-reliant and sustainable cooperatives in agriculture and rural industries. Enable cooperatives to access long-term credit, working capital, and modern infrastructure.

• Promote self-reliant and sustainable cooperatives in agriculture and rural industries.

• Enable cooperatives to access long-term credit, working capital, and modern infrastructure.

• Key Functions:

• Finance production, processing, marketing, and storage of agricultural produce. Support import and export of notified commodities such as fertilizers, machinery, rubber, textiles, etc. Fund income-generating activities like dairy, poultry, fisheries, handloom, and sericulture. Extend financial assistance to cooperatives for rural infrastructure such as irrigation, sanitation, and animal health. Provide both grants and loans to State Governments and directly to eligible cooperative societies. Offer technical guidance and project preparation support through its regional offices.

• Finance production, processing, marketing, and storage of agricultural produce.

• Support import and export of notified commodities such as fertilizers, machinery, rubber, textiles, etc.

• Fund income-generating activities like dairy, poultry, fisheries, handloom, and sericulture.

• Extend financial assistance to cooperatives for rural infrastructure such as irrigation, sanitation, and animal health.

• Provide both grants and loans to State Governments and directly to eligible cooperative societies.

• Offer technical guidance and project preparation support through its regional offices.

• Significance of NCDC:

• Serves over 13,000 cooperative societies with 2.9 crore members. Enables inclusive rural growth through job creation, especially in women-led and labour cooperatives. Supports cooperatives in cold storage, food processing, fisheries, dairy, and textiles, enhancing value chains.

• Serves over 13,000 cooperative societies with 2.9 crore members.

• Enables inclusive rural growth through job creation, especially in women-led and labour cooperatives.

• Supports cooperatives in cold storage, food processing, fisheries, dairy, and textiles, enhancing value chains.