New Delhi, July 31 -- The Union Cabinet, chaired by Prime Minister Narendra Modi, today approved the Central Sector Scheme 'Grant in aid to National Cooperative Development Corporation (NCDC)', with an outlay of Rs 2,000 crore over four years from 2025-26 to 2028-29, to extend loans to cooperatives for their various activities, said an official statement.
This grant is expected to enable the NCDC to mobilise Rs 20,000 crore from the open market within the same period.
The funds raised will be used by the NCDC to extend loans to cooperative societies for new projects, expansion of existing plants, and to meet working capital requirements.
Approximately 2.9 crore members belonging to 13,288 cooperative societies across sectors such as d...