NCDC sanctions Rs 10 162 crore for financial assistance

Addressing the 80th meeting of General Council of NCDC Agriculture Minister Radha Mohan Singh says the Corporation disbursed over Rs 7,000 crore in 2015-16
NCDC sanctions Rs 10 162 crore for financial assistance

The National Cooperative Development Corporation (NCDC) will extend utmost cooperation in all matters pertaining to providing necessary technical support and financial assistance to the Cooperatives, Radha Mohan Singh, Agriculture Minister said today while presiding over the 80th meeting of General Council of NCDC held in New Delhi.

He said that all such proposals will be considered and new projects will be implemented immediately. Singh said that NCDC has disbursed more than Rs.7,000 crore during the year 2015-16, which is 24.10 percent higher than that during the preceding year.

The NCDC promotes cooperative development in the country by providing financial assistance to Cooperatives in agriculture & non agriculture, industrial and service sectors. The Corporation’s scheme have been formulated keeping in view increase in income & improvement in livelihood of economically weaker sections like farmers, artisans, weavers, poor agricultural masses, women and tribals etc.

The Corporation has been working towards providing financial assistance, continuous promotion and development of Cooperatives for more than last five decades.

The NCDC’s net NPA was maintained at ‘zero’ and recovery rate was 99.98 percent. Further, during current financial year 2016-17, the Corporation has sanctioned financial assistance of Rs.10,162 crore up-to 30th November 2016. The NCDC’s overall target for the year 2016-17 was Rs.6,000 crore, which was to be achieved by March 2017. However NCDC achieved this target on 18th November 2016 itself.

The Minister stated that there is a huge network of cooperatives in the country, which is the largest in the world. About seven lakh cooperatives are in existence here. Nearly 98 percent villages are covered by these cooperatives and farmers have easy access to them. Primary Agricultureal Credit Societies (PACS) and District Cooperative Bank can play important role starting from pre-harvest programmes like selection of crops & purchase of seeds, right up to harvesting of crops and marketing of produce etc. This will result in increase in farmers’ income.

Singh advised NCDC and members of the General Council to ensure that suitable proposals are received and sanctioned for hitherto less covered societies like those in North East and also in weaker sections e.g. Dairy, Poultry, Fisheries, Labour, Women and Scheduled Castes & Scheduled Tribes. The Minister advised NCDC to take lead and organize a conference for women cooperators wherein they should be trained on posing suitable proposals for accessing funds from NCDC and other sources. Singh appealed to the members present there on the occasion to spread information pertaining to NCDC’s schemes, among Cooperatives in their areas, so that they can avail maximum assistance from NCDC.

This was first meeting of reconstituted General Council of NCDC. Newly nominated 22 members in the General Council also attended the meeting. The main agenda of the meeting was to peruse and ratify annual report and annual accounts for the year 2015-16. 

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