India, July 31 -- The Union Cabinet on Thursday approved a Rs 2,000 crore grant-in-aid for the National Cooperative Development Corporation (NCDC) over a period of four years, aimed at strengthening the corporation's ability to mobilise additional funds for lending.
The decision was taken during a meeting of the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi.
Speaking to the media, Information and Broadcasting Minister Ashwini Vaishnaw said, "To further support a sound financial model, the Cabinet has approved a capital grant-in-aid of ?2,000 crore for NCDC over the next four years."
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