Cabinet OKs INR 20 bln grant to National Cooperative Development Corp
This story was originally published at 15:50 IST on 31 July 2025
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--Cabinet OKs INR 20 bln for Natl Co-op Development Corp
NEW DELHI – The Union Cabinet Thursday approved a grant in aid of INR 20 billion to the National Cooperative Development Corp. for four years ending 2028-29 (Apr-Mar), the government said in a release. Based on this grant, National Cooperative Development Corp. will be able to raise INR 200 billion from the open market over four years, the release said.
The corporation will utilise the funds to provide loans to cooperatives for setting up new projects, expanding plants, and meeting working capital requirements, the release said.
The grant will benefit around 29 million members of 13,288 cooperative societies in sectors including dairy, livestock, fisheries, sugar, textile, food processing, storage, and cold storage, the release said. India has over 825,000 cooperatives with more than 290 million members. Around 94% farmers are associated with cooperatives.
National Cooperative Development Corp. will disburse and monitor the implementation of the project and recovery of loans. It will provide loans to cooperatives either through state governments or directly. "The availability of loans will help cooperatives in their capacity augmentation, modernisation, diversification of activities, increasing their profitability and enable them to increase their productivity and generate more employment, improving the economic conditions of the farmer members."
National Cooperative Development Corp. has disbursed a total of INR 4.05 trillion loans, a government official said at a press conference announcing the Cabinet decisions. End
Reported by Shubham Rana
Edited by Saji George Titus
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