Why in News?

• National Cooperative Development Corporation (NCDC) launched ‘Yuva Sahakar’scheme.

Highlights:

• To attract youth to cooperative business ventures.
• It has created a dedicated fund with liberal features enabling youth to avail the scheme.
• It would provide more incentives for cooperatives of North Eastern region, Aspirational Districts and cooperatives with women or SC or ST or PwD members.
• The funding for the project will be up to 80 percent of the project cost for these special categories against 70 percent for others.
• The scheme envisages 2 percent less than the applicable rate of interest on term loan for the project cost up to Rs 3 crore including 2 years moratorium on payment of principal.
• All types of cooperatives in operation for at least one year are eligible to avail of the scheme.
• It would encourage cooperatives to venture into new and innovative areas.
• The scheme is expected to meet the needs of youth.

NCDC:

• The NCDC has the unique distinction of being the sole statutory organisation functioning as an apex financial and developmental institution exclusively devoted to cooperative sector.
• It supports cooperatives in diverse fields apart from agriculture and allied sectors.
• It is an ISO 9001:2015 compliant organisation and has a distinctive edge of competitive financing.
• Being the most preferred financial institution in the world of cooperatives, it has also
  initiated Sahakar 22, a Mission for Doubling Farmers’ Income by 2022.