New Delhi: The National Cooperative Development Corporation (NCDC), operating under the Ministry of Cooperation, has been actively working towards the development and empowerment of women cooperative societies across the nation. NCDC focuses on encouraging women’s cooperatives to benefit from financial assistance under various schemes, aiming to uplift and empower women through cooperative endeavors.
Women-centric cooperatives, as well as cooperatives with women as members, are eligible to avail assistance under NCDC’s diverse range of schemes and programs. The financial assistance provided by NCDC covers a wide array of activities, including food grain processing, crop plantation, oilseed processing, fisheries, poultry, dairy and livestock farming, storage, spinning mills, handloom, jute and powerloom weaving, integrated cooperative development projects, Yuva Sahakar, and various services.
As of March 31, 2023, NCDC has disbursed a cumulative financial assistance of Rs. 5714.81 crores dedicated to the development of cooperative societies exclusively promoted by women. Additionally, NCDC has implemented special schemes to further support women in cooperative societies:
- NAndini Sahakar: This scheme focuses on improving the socio-economic status of women and nurturing their entrepreneurial spirit through women cooperatives. Any cooperative society with a minimum of 50% women as primary members, operational for at least three months, is eligible to apply for assistance. The aid comes in the form of credit linkage for infrastructure term loans and working capital, complemented by subsidies or interest subventions from other government schemes or agencies. As an incentive, NCDC provides a 2% interest subvention on its rate of interest for term loan portions dedicated to new and innovative activities, and a 1% interest subvention for all other activities, resulting in reduced borrowing costs.
- Swayam Shakti Sahakar Yojana: This new scheme is designed to provide NCDC’s financial assistance to Agricultural Credit Cooperatives, enabling them to extend loans and advances to Women Self Help Groups (SHGs).
Minister of Cooperation, Shri Amit Shah, shared this information in a written reply to a question in the Lok Sabha. These initiatives reflect the commitment of NCDC towards fostering women’s empowerment, supporting their entrepreneurial endeavors, and contributing to their socio-economic upliftment through cooperative initiatives.
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