Yuva Sahakar - Cooperative Enterprise Support and Innovation Scheme

•  To cater to the needs and aspirations of the youth, the National Cooperative Development Corporation (NCDC) has come up with a youth-friendly scheme ‘Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme” for attracting them to cooperative business ventures.

About Scheme:

• The newly launched scheme would encourage cooperatives to venture into new and innovative areas.
• The scheme will be linked to Rs 1000 crore ‘Cooperative Start-up and Innovation Fund (CSIF)’ created by the NCDC. It would have 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% 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. All types of cooperatives in operation for at least one year are eligible.
• This scheme is expected to meet the needs of today’s youth.

About NCDC:

• NCDC is a statutory Corporation set up under an Act of Parliament on 13th March 1963.
• The objectives of NCDC are planning and promoting programmes for production, processing, marketing, storage, export and import of agricultural produce, foodstuffs, industrial goods, livestock and certain other notified commodities and services on cooperative principles and for matters concerned therewith or incidental thereto.

By: Vishal