NCDC provides Rs 400 crore working capital loan to Kerala cooperative sector
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How it started
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.
How it developed
Newest first. Tap a step to see who reported it.- The National Cooperative Development Corporation (NCDC) sanctioned Rs 100 crore funding to Samata Nagari Sahakari Patsanstha Ltd.Sub-event
NCDC offers financial aid to Kerala's cooperative sector.1 source
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The entities involved
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Kerala
Indian state
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National Cooperative Development Corporation
Government agency of India
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