NCDC creates record; disburses Rs 20K cr in first three quarters!

The cooperative lender-NCDC has created a new record by disbursing loans to cooperatives more than Rs 20,000 crore in the first three quarters of the 2021-22 financial year.

The news has created a joyous moment among the officials and leaders associated with NCDC. The financial assistance schemes of cooperative lenders are encouraging and attracting people to form new co-ops for carrying out business activities.

Sharing the good news through the official social media handle of NCDC wrote, “RECORD BY NCDC IN FIRST THREE QUARTERS EVER! Total disbursements loans to cooperatives by NCDC in the FY 2021-22 have crossed Rs. 20,000 crores today. Team NCDC and guidance of Hon Amit Shah”.

Later on, the social media netizens congratulated the NCDC for setting up a new record and lauded its role in strengthening the cooperative movement by fulfilling the financial needs of Co-ops.

“There is no doubt especially about the leadership of its MD Sundeep Nayak, the NCDC is on the growth path and launching different schemes to help cooperatives. He is actively taking a keen interest”, said a cooperator.

NCDC provides liberal assistance to strengthen and develop cooperatives to the extent of 90-95% of the project cost which may include a subsidy component of 15-25% under certain schemes.

Over the past few years notified services like tourism, hospitality & transport, electricity & power, rural housing, hospitals, healthcare and education have been included in the sphere of operations of NCDC. Its Ayushman Sahakar, a unique scheme to assist cooperatives play an important role in the creation of healthcare infrastructure in the country, has been received well by cooperatives.

Earlier, Union Home and Cooperation Minister Amit Shah praised the role being played by NCDC and said that it extended cumulative financial assistance to cooperatives to the tune of Rs 1.86 lakh crore as of 30.06.2021.

Out of this, Rs.1.31 lakh crore has been disbursed in the last seven years (since 2014-15) signifying a 286% increase compared to the period, 1963-2014, said Shah underlining the Modi govt push for co-op development.

The finance schemes of NCDC cover activities such as agro-processing, Horti-processing, credit, inputs, computerization, storage, cold chain, textile, handloom, sugar, ethanol, dairy, fisheries, livestock, piggery, poultry, renewable energy, rural housing, scheduled caste & scheduled tribes, women cooperatives, animal care/health, hospitality & transport, electricity & power, hospitals, healthcare, and education, etc.