Minister of Cooperation addressed 89th General Council meeting of the National Cooperative Development Corporation (NCDC)

Source: The post is based on the article “Minister of Cooperation addressed 89th General Council meeting of the National Cooperative Development Corporation (NCDC) ” published in “PIB” on 10th October 2023

What is the News?

The Union Minister of Cooperation addressed the 89th General Council meeting of the National Cooperative Development Corporation(NCDC).

What is the National Cooperative Development Corporation (NCDC)?

The National Cooperative Development Corporation (NCDC) is a statutory Corporation set up under an Act of Indian Parliament in 1963.

Parent Ministry: Ministry of Cooperation

Functions:

– To plan, promote and finance programmes for production, processing, marketing, storage, export and import of agricultural produce, food stuffs, certain other notified commodities.

– To assist different types of cooperatives and to expand its financial base.

– To finance projects in the rural industrial cooperative sectors and for certain notified services in rural areas like water conservation, irrigation and micro irrigation, agri-insurance, agro-credit, rural sanitation, animal health, etc.

– To give loans and grants to State Governments for financing primary and secondary level cooperative societies and direct to the national level and other societies having objects extending beyond one State.

– To go in for direct funding of projects under its various schemes of assistance on fulfillment of stipulated conditions.