NCDC MD Sundeep Nayak greeted NABARD chairman GR Chintala at HQ
By FnF Correspondent | PUBLISHED: 24, Dec 2020, 10:17 am IST | UPDATED: 26, Dec 2020, 21:30 pm IST
NCDC and NABARD are the key financial organization of government of India helping agriculture sector and farmers of the nation. Today Mr. Sundeep Nayak, MD NCDC welcome and greeted Happy New Year to Dr GR Chintala, Chairman NABARD and Member Board of Management NCDC. Mr Chintala visited NCDC headquarters in Delhi today. NABARD and NCDC have joined hands to give boost to all round farmers prosperity.
As we know National Cooperative Development Corporation (NCDC) is an apex level statutory autonomous institution set up by the Government of India under an Act of the Parliament in 1963. It has been created for the purpose of planning and promoting programmes for the production, processing, marketing, storage, export and import of agricultural produce, foodstuffs, industrial goods, livestock, certain other commodities and services like hospital & healthcare and education etc. on cooperative principles. It extends financial assistance to cooperatives at all the three tiers, Primary, District and Apex / Multi-State. NCDC is under the administrative control of the Ministry of Agriculture and Farmers Welfare, Government of India.
NCDC has emerged as a financial powerhouse giving the client cooperatives a wide range of products and services. It is an ISO 9001:2015 certified organisation. NCDC follows a simple, transparent, and robust system of appraisals and approvals through its 18 Regional Offices or its Head Office in New Delhi.
NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982. Set up with an initial capital of Rs.100 crore, its’ paid up capital stood at Rs.14,080 crore as on 31 March 2020. Consequent to the revision in the composition of share capital between Government of India and RBI, NABARD today is fully owned by Government of India.