The government will introduce a bill in the Lok Sabha on Monday aimed at broadening the mandate of the National Cooperative Development Corporation (NCDC), enabling the organisation to give loans and grants directly to co-operative societies or any entity engaged in the development of the sector.
The NCDC, a statutory organisation under the Ministry of Cooperation, was established in 1963 under the National Co-operative Development Corporation Act, 1962.
Its main functions include planning, promoting, and financing programs for the production, processing, marketing, storage, and export-import of agricultural produce, foodstuffs, and other notified commodities.
On Monday, the government will present the National Cooperative Development Corporation (Amendment) Act, 2026, in the Lok Sabha. According to the bill circulated to the Lok Sabha members, this amendment seeks to revise the principal Act.
(PTI)
