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yesterday

Union Cabinet Greenlights Rs 2,000 Crore Grant to NCDC for Cooperative Lending

The scheme empowers NCDC to convert a Rs 2,000 crore budgetary outlay into Rs 20,000 crore in market borrowings for cooperative credit starting FY2025-26.

Photo: IANS
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Overview

  • The Union Cabinet approved a Central Sector Scheme allocating Rs 2,000 crore to NCDC from FY2025-26 to FY2028-29.
  • NCDC will mobilize up to Rs 20,000 crore through open market funds over the four-year period.
  • Loans will finance new projects, plant expansions and working capital needs in sectors such as dairy, fisheries, textiles and food processing.
  • About 2.9 crore members of 13,288 cooperative societies across India are expected to benefit from the scheme.
  • NCDC will serve as the executing agency responsible for disbursement, project monitoring and loan recovery ahead of the fiscal launch.