NCDC Disburses Over Rs.5,700 Cr To Agri Co-Operative Societies
Facebook Twitter google+ RSS Feed

NCDC Disburses Over 5,700 Cr To Agri Co-Operative Societies

Wednesday, 29 April 2015, 10:22 Hrs
24
cmt right
37
Comment Right
64
cmt right
12
cmt right
Printer Print Email Email


NEW DELHI: The government's agri-financing body National Co-operative Development Corporation today said it disbursed over 5,700 crore to cooperative societies during the last financial year.



The disbursal was about 8-9 per cent higher than the 2013-14 fiscal."We disbursed over 5,700 crore during last fiscal, of which about 3,600 crore was for marketing and procurement of agricultural produce," NCDC Managing Director Vasudha Mishra said on the sidelines of an award function.



"We have set a loan disbursal target of 5,600 crore in 2015-16 fiscal, but we will do more than that," she told PTI. Mishra said the corporation has surplus from last year and will raise more funds from banks to meet the disbursal target.



NCDC was established by an Act of Parliament in 1963 as a statutory corporation under the Union Agriculture Ministry for developing rural economic activities through co-operatives.



Minister of State for Agriculture Mohanbhai Kundaria today presented NCDC award for Co-operative Excellence-2014 to 31 best performing co-operatives from different states. NCDC gave 28 state-level awards and 3 national awards this year.



Underlining the key role of NCDC, Kundaria said the schemes are helping co-operatives build infrastructure for storage, cold storage and agro-based processing units in the rural areas. It also assists them in distribution of agriculture inputs and marketing of agriculture produce to give better price to farmers.



The minister said that NCDC has so far disbursed more than 52,000 crore for various co-operatives development programmes.



The period of repayment of loan ranges from 3 to 8 years. The rate of interest varies from time to time.

Also Read: NTPC Flags Off Mobile Science Labs For Rural India
<img src=" border="0" height="11" src="file:///C:UserssiAppDataLocalTempmsohtmlclip11clip_image001.jpg" width="10" /> 200 Cr Production Lost Due To Industrial Disputes


Source: PTI
Write your comment now
Submit Reset
SPOTLIGHT