NCDC provides Rs 400 crore working capital loan to Kerala cooperative sector
What happened
The National Cooperative Development Corporation sanctioned a Rs 400 crore working capital loan to the Central Financial Credit and Investment Cooperative (India) Ltd. The financial assistance is intended to strengthen the cooperative's working capital position and support the expansion of its business activities. Surendra Kumar Suman, Regional Director of NCDC, handed over the loan sanction letter in Thiruvananthapuram.
Why it matters
The financial support underscores the role of the National Cooperative Development Corporation in providing capital for the growth and development of cooperatives in Kerala. This sanction occurs while Kerala’s cooperative sector is focused on strengthening its institutions and expanding its financial outreach.
Who's involved
- National Cooperative Development CorporationProvided the Rs 400 crore working capital loan to the cooperative sector.
- KeralaThe Indian state where the cooperative sector is receiving financial support.
- ThiruvananthapuramThe city where the loan sanction letter was handed over.
Keep exploring
The entities involved
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Kerala
Indian state
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National Cooperative Development Corporation
Government agency of India
Related events
- A support network is operating within the state of Kerala.
- The Union Minister inaugurated initiatives aimed at strengthening the cooperative sector, supporting agricultural and rural development in Kerala.
- Central government initiatives are pitching women-led cooperatives as a key economic driver and urged collaboration to strengthen the cooperative sector in Kerala.
- Tamil Nadu awarded a tender to a firm based in Kerala.