The Rajya Sabha on Wednesday passed the National Co-operative Development Corporation (Amendment) Bill, 2026, paving the way for the statutory body to provide loans and grants directly to cooperative societies and other entities involved in cooperative development.The Bill, which had cleared the Lok Sabha on Tuesday without a debate amid opposition protests, seeks to expand the National Cooperative Development Corporation’s (NCDC) ability to finance projects and institutions supporting the cooperative sector.Minister of State for Cooperation Murlidhar Mohol had moved the legislation in the Lok Sabha.The NCDC was established in 1963 under the National Cooperative Development Corporation Act, 1962. It operates under the Ministry of Cooperation and is responsible for planning, promoting and financing programmes related to the production, processing, marketing, storage and export-import of agricultural produce, foodstuffs and other notified commodities.The amendment seeks to remove an existing limitation that prevents the corporation from directly financing certain entities whose work is aimed at developing cooperatives but which are not themselves registered as cooperative societies.
Rajya Sabha passes NCDC Amendment Bill to boost cooperative sector funding
In a significant move, the Rajya Sabha has approved the National Co-operative Development Corporation Amendment Bill, enabling the NCDC to provide direct funding to cooperative societies and related entities. After navigating through opposition-driven protests, the bill was earlier passed by the Lok Sabha. Established in 1963, the NCDC aims to bolster agricultural produce along with other key commodities, and this amendment enhances its financial support capabilities for cooperatives.
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