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Informist, Tuesday, Aug. 5, 2025

 

MUMBAI – The National Cooperative Development Corp. has disbursed loans amounting to INR 1.84 billion to sugar factories as of Jun. 30 in the financial year 2025-26 (Apr-Mar), Minister of Cooperation Amit Shah said in a written reply to the Lok Sabha Tuesday.

 

The corporation has disbursed a total of INR 1.85 billion in loans to sugar factories, textile units, and other processing units as of Jun. 30. Other processing units include foodgrain, plantation crops, fruit and vegetables, oilseeds, and small scale industries. "As National Cooperative Development Corporation did not receive project for financial assistance from poultry, coir, and small-scale industry during last five years hence the disbursement could not be made under these sectors," according to the release.

 

The Union Cabinet had approved Thursday a grant-in-aid of INR 20.00 billion to the National Cooperative Development Corp. for four years ending FY29. Based on this grant, the corporation will be able to raise INR 200.00 billion from the open market over four years. It will use the funds to give loans to cooperatives to set up new projects, expand plants, and meet working capital needs.  End

 

Reported by Ashutosh Pati

Edited by Rajeev Pai

 

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