In a significant boost to India's cooperative sector, Union Home and Cooperation Minister Amit Shah announced that the National Cooperative Development Corporation (NCDC) has disbursed a record Rs 95,200 crore to cooperative societies in the fiscal year 2024-25. This marks a monumental increase from the Rs 24,700 crore disbursed in FY 2020-21.
Record Growth and Financial Health
Addressing the 92nd General Council Meeting of the NCDC, Shah highlighted the corporation's exceptional financial performance over the last four years. He revealed that the NCDC has maintained a stellar compound annual growth rate (CAGR) of over 40%. Furthermore, the institution has achieved its highest-ever net profit of Rs 807 crore while maintaining a zero net NPA (Non-Performing Asset) record, underscoring its robust financial health and efficient management.
Pioneering Bharat Taxi and Future Initiatives
Minister Shah emphasized the NCDC's pivotal role in the upcoming launch of "Bharat Taxi", which is set to become the country's first cooperative-based ride-hailing service. He confirmed that the new multi-state cooperative society has been officially registered. The project is currently in an advanced stage, with driver enrollment and technological development actively underway. This initiative aims to create new entrepreneurial opportunities within the cooperative ecosystem.
Major Fund Mobilization for Key Sectors
Looking ahead, the NCDC is set to amplify its support. Based on a government grant of Rs 2,000 crore approved on July 31, 2025, the corporation is mobilizing a massive Rs 20,000 crore. This fund will be used to provide long-term and working-capital loans at concessional rates to cooperatives in vital sectors. The targeted sectors include dairy, livestock, fisheries, sugar, textile, food processing, agriculture, and women-led cooperative societies.
Shah also urged for the promotion of a circular economy in the sugar and dairy sectors to enhance their overall profitability and sustainability. The NCDC, established with the core mission of empowering cooperative societies and making financial assistance easily accessible to them, continues to be a cornerstone of India's cooperative movement, driving economic growth and self-reliance at the grassroots level.
