NCDC, the apex financing institution under the newly created Union Ministry of Cooperation has sanctioned Rs 6836.48 crore to Haryana for paddy procurement under Minimum Support Price (MSP) operations for Kharif marketing season 2021-22.
An amount of Rs.1,000 crore has already been disbursed in two tranches, said NCDC Managing Director Sundeep Nayak. This is for the first time since its creation the Union Ministry of Cooperation has moved in to support farmers for food grain procurement under MSP operations via its financial apex body the NCDC.
The step also aims to give relief to farmers already under stress due to the Covid-19 pandemic. Haryana has already started procurement of paddy at MSP from October 3.
DK Singh, Secretary Cooperation of the Govt of India said state agencies would carry paddy procurement through cooperatives with a view to providing support to farmers during the pandemic times to sell their produce at MSP.
In other words, cooperatives will use these short-term loans to procure food grains from farmers on behalf of State procurement agencies for making instant payments to farmers so that they do not have to wait for their dues.
A premier ISO 9001:2015 certified financial institution exclusively for cooperatives, NCDC has been playing a very crucial role in supporting MSP operations in the country and as on date, it has cumulatively disbursed Rs 98,071 crore to undertake MSP operations throughout the country and Rs 20,844 crore alone to Haryana.
Recently, the cooperative lender NCDC’s MD Sundeep Nayak met Reserve Bank of India Governor Dr Shaktikanta Das at his Mumbai office to brief him about the activities being undertaken by the NCDC for the promotion of cooperatives in the country. on the occasion.
Nayak, who is regarded well by co-operators for his commitment to the co-op cause, has been reaching out to various agencies for the growth of the sector. He had earlier also met NABARD chief.
Active in several fields, the latest from NCDC is a pilot project on telemedicine services, to be operated by AIIMS Raipur through NCDC for members of the fisheries cooperatives under the central sector flagship program the Pradhan Mantri Matsya Sampada Yojana (PMMSY) on Monday.
