NCDC doles out highest ever loan; earns profit keeping 0% NPA

Once again, the cooperative lender National Cooperative Development Corporation (NCDC) has done well by keeping its NPA almost zero and earning a handsome net profit of Rs 527.34 crore in the 2022-23 financial year.

NCDC also gave out the highest ever loans to boost the co-operative movement in the country, as was revealed during a powerpoint presentation in a co-operative event in Delhi by NCDC Chief Director Ms. R Vanitha.

During the FY 2022-23, the NCDC disbursed Rs 41,031.39 crore in different sectors including Agriculture Processing, Weaker Sections, Computerization of Cooperatives, Service, Credit and Youth cooperatives and others. It is the highest disbursement in the history of NCDC. For the computerization of cooperatives, NCDC disbursed Rs 45.02 crore. In the last financial year, i.e. 2021-22, the total disbursement was Rs 34,200 crore, Ms. Vanitha added.

In her power point presentation, Ms Vanitha said, “NCDC disbursed cumulatively financial assistance of Rs 2,52,580 crore to the cooperatives. The cooperative lender has 18 regional offices in India and one training institute at Gurugram”.

During the year, the loan recovery stood at 99.67 percent and this year also the NCDC Net NPA remains Zero. The figures were revealed by the NCDC Chief Director Ms. R Vanitha during her participation in the ‘National Cooperative Meet’ organized at PHD Chamber of Commerce and Industry last week.

Besides, NCDC launched two new schemes namely ‘’Krishak Dirghawadhi Poonji Sahakar Yojana’’ with an objective to provide long-term credit to agricultural credit cooperatives and the other is ‘’Swamshakti Sahakar Yojana’’ which aims to strengthen Women Self Groups/Joint Liability Groups through Cooperative Credit Societies.

Readers would recall that in order to realize Prime Minister Shri Narendra Modi’s vision of “Sahkar se Samriddhi”, the target of forming 1100 additional FPOs was allocated to National Cooperative Development Corporation (NCDC) by the Ministry of Agriculture and Farmers’ Welfare under its ‘Formation and Promotion of 10,000 FPOs scheme.

National Cooperative Development Corporation (NCDC), a Statutory Corporation under the Ministry of Cooperation, Government of India was established on 14.03.1963 under an Act of Parliament (NCDC Act of 1962) for economic development through cooperative societies.

The major objective of the Corporation is to promote, strengthen and develop farmer cooperatives for increasing production and productivity and instituting post-harvest facilities.