Agricultural Financer NCDC surpasses annual target in just first 6 months

NewsBharati    22-Nov-2017
Total Views |

New Delhi, November 22: For planning, promoting and financing Agricultural products, the National Cooperative Development Corporation (NCDC) was set up under the Agricultural Ministry which has performed excellently during the current financial year 2017-18. NCDC also registered a record by surpassing its annual target in first 6 months.

 

Agriculture Minister Radha Mohan Singh in 82nd meeting of General Council of NCDC stated that during the FY 2016-17 NCDC sanctioned Rs. 25, 270 crores and disbursed all high time assistance of Rs.15, 915 crores. Singh further said that in the last three years, the Corporation also registered a momentous growth of 254 percent in releasing its financial assistance to the cooperatives.


The Net Non- Performing Assets (NPA) was at zero level maintenance and the recovery is more than 99.66 percent, he said. Minister further added that during the current financial year, 2017-18 the Corporation not only continued excellent performance, but also registered a record by surpassing its annual target in first 6th month. He also appreciated the performance of NCDC and expressed hope that NCDC would continue to post admirable results and attain greater heights and standard in the years to come.


Talking about the income of the farmers he stressed on the role of cooperatives in ensuring remunerative income for farmers and invited people to invest for creation of direct supply chain and develop post harvest infrastructure to ensure better income for farmers in line with the resolve of Government of India to double the income of farmer by 2022. In this regard he said that NCDC will continue to play a key role in development of cooperatives in the larger interest of the farmer and rural population.


National Cooperative Development Corporation (NCDC) was established under Ministry of Agriculture & Farmers Welfare by an Act of Parliament in 1963 as a statutory Corporation. Its main function is planning, promoting and financing programmes for production, processing, marketing, storage, export and import of agricultural commodities, food stuffs, and certain other notified produce.