After formally launching the National Cooperative Export Limited (NCEL), Union Home and Cooperation Minister Amit Shah will launch the National Level Multi State Seed Cooperative Society in a glittering function to be organized on Thursday at the Vigyan Bhawan.
The preparations for the formal launching of the seed cooperative is going on in full swing. It is said that Shah will also release the logo, website and brochure of NCEL and distribute membership certificates to seed cooperative members.
The National Multi-State Cooperative Society for seeds will function as an umbrella organization to promote cultivation, production & distribution of certified seeds. About 4500 cooperative societies of all levels are likely to become its members on this occasion. IFFCO Marketing Director Yogendra Kumar is the Chairman of the seed cooperative society.
It is said that primary to national level cooperatives societies including district, state and national level federations and multi state cooperative societies can become its member. All these cooperatives will have their elected representatives on the Board of the society as per its bye-laws.
The seed multistate co-op will have an authorized share capital of Rs 500 crore and an initial paid-up share capital of Rs 250 crore. The five co-ops will contribute Rs 50 crore each, he added.
