This article provides a detailed dataset on NCDC funding to Cooperative Societies and Banks over the past three years, with state-wise trends to aid your preparation for state public exams or provincial services.
When it comes to financial fueling to cooperatives one and only name comes to mind is NCDC. The National Cooperative Development Corporation (NCDC) plays a crucial role in promoting, financing, and supporting cooperative societies and cooperative banks in India.
What is National Cooperative Development Corporation (NCDC)
The National Cooperative Development Corporation (NCDC) is a statutory organization under the Ministry of Cooperation, Government of India. It was established in 1963 under the NCDC Act, 1962, to promote, finance, and develop cooperative societies in various sectors, particularly in agriculture and rural development.
Facts you must know about NCDC
1. Financial Support for Cooperatives
- Provides loans and grants to cooperative societies engaged in agriculture, rural industries, and services.
- Offers working capital, term loans, and infrastructure funding to strengthen cooperatives.
- Supports cooperative banks in lending to farmer cooperatives and rural enterprises.
Select State and know the amount spent
2. Strengthening Cooperative Banks
- Provides refinance and direct funding to cooperative banks for agricultural and rural development projects.
- Enhances the financial capacity of cooperative credit institutions to support farmers and small businesses.
- Encourages digitalization and modernization of cooperative banking operations.
3. Promoting Agri-Business and Rural Development
- Funds primary agricultural credit societies (PACS) to improve rural credit delivery.
- Supports cooperatives in food processing, storage, and cold chain infrastructure.
- Aids in value chain development for agricultural products through cooperative societies.
4. Capacity Building and Skill Development
- Conducts training programs and workshops for cooperative society members and bank officials.
- Promotes best practices, governance, and financial literacy in the cooperative sector.
- Encourages women and youth participation in cooperative movements.
5. Policy Advocacy and Support
- Works with the government to frame policies that benefit cooperatives.
- Supports integration of cooperatives with national development programs like ‘Atmanirbhar Bharat’ and ‘Digital India’.
- Assists in expanding cooperatives into new sectors such as healthcare, tourism, and IT services.
NCDC is Important for:
UPSC, SSC, Banking Services, India Post Jobs, State PCS, Subordinate Class, etc.
