Parliament Clears Bill to Give Cooperatives Faster Access to Funding
What Happened
Parliament has passed the National Co-operative Development Corporation (NCDC) Amendment Bill, 2026, allowing the NCDC to provide loans and grants directly to cooperative societies and other eligible entities engaged in cooperative development. The reform removes the requirement for many proposals to be routed through state governments, aiming to reduce delays and improve access to finance.
Key Takeaways
The amendment is expected to strengthen India's cooperative ecosystem by making funding more direct, flexible, and efficient, particularly for sectors such as agriculture, dairy, food processing, storage, and rural development.