Why in the News?
- The Minister of Cooperation has provided some information about the Nandini Sahakar Yojana.
- NCDC has cumulatively disbursed financial assistance amounting to Rs. 6426.36 crore for the development of cooperative societies exclusively promoted by women across the country.
About Nandini Sahakar Yojana
- The Nandini Sahakar Scheme was initiated by the National Cooperative Development Corporation (NCDC) in 2010.
- It is a women-focused framework providing financial assistance, project formulation, hand-holding, and capacity development.
- The scheme aims to assist women cooperatives in undertaking business model-based activities under the purview of NCDC.
Features of the Scheme
- Any cooperative society with at least 50% women as primary members and a minimum of three months in operation is eligible to apply.
- Assistance is provided in the form of credit linkage for infrastructure term loans and working capital, along with subsidies or interest subvention from other government schemes.
- There is no minimum or maximum limit on financial assistance for projects by women cooperatives.
- NCDC offers a 2% interest subvention on its rate of interest on term loans for new and innovative activities.
- A 1% interest subvention is provided on term loans for all other activities, resulting in lower borrowing costs for women cooperatives.
