Yuva Sahakar Scheme
Why in News?
National Cooperative Development Corporation (NCDC) launched ‘Yuva Sahakar’scheme.
- 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.
- 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.
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