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Yuva Sahakar Scheme
Why in news
- National Cooperative Development Corporation (NCDC) has come up with a youth-friendly this scheme for attracting them to cooperative business ventures.
- Union Minister of Agriculture and Farmers’ Welfare Shri Radha Mohan Singh said at the launch of the scheme.
More about the news
Eligibility:
- It would have more incentives for cooperatives of North Eastern region, Aspirational Districts and cooperatives with women or SC or ST or PwD members.
- All types of cooperatives in operation for at least one year are eligible.
Funding
- The scheme will be linked to Rs 1000 crore ‘Cooperative Start-up and Innovation Fund (CSIF)’ created by the NCDC.
- The funding for the project will be up to 80% of the project cost for these special categories as against 70% for others.
- The scheme envisages 2% 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.
NCDC
- odal Agency: Ministry of Agriculture & Farmers Welfare.
- It supports cooperatives in diverse fields apart from agriculture and allied sectors.
- It is a sole statutory organisation functioning as an apex financial and developmental institution exclusively devoted to cooperative sector.
Source
PIB