Cabinet Approves Rs. 2,000 Crore Grant To NCDC To Strengthen Cooperative Sector Lending

New Delhi/Hyderabad, July 31 (Maxim News): In a significant boost to India’s cooperative sector, the Union Cabinet has approved a ₹2,000 crore grant-in-aid for the National Cooperative Development Corporation (NCDC). The financial support, spread over four years, aims to enhance the NCDC’s lending capacity and empower cooperative institutions across the country.

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The decision was taken at the meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, as part of the government’s ongoing push to strengthen the cooperative ecosystem.

Speaking at a press briefing, Information and Broadcasting Minister Ashwini Vaishnaw said, “To further support a sound financial model, the Cabinet has approved a capital grant-in-aid of ₹2,000 crore to the NCDC over a period of four years.”

Objective: Boost Affordable Lending for Cooperatives

This strategic move will allow NCDC to mobilize additional resources from financial markets and increase its capacity to provide low-interest loans to cooperative societies involved in agriculture, dairy, fisheries, rural development, and other allied sectors.

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The grant will also ensure that small and medium cooperative societies have easier access to institutional credit, supporting rural livelihoods and local economic development.

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