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The Minister of Cooperation informed the Lok Sabha about the status of the Yuva Sahakar Scheme.
It is an initiative launched by the National Cooperative Development Corporation (NCDC) to support newly formed cooperative societies with innovative ideas.
It aims to encourage young entrepreneurs by providing long-term loans for project activities. The scheme is open to cooperatives that have been in operation for at least three months and have innovative concepts.
It is linked to a fund of Rs. 1000 crores under the Cooperative Start-up and Innovation Fund.
It provides long-term loans of up to 5 years.
NCDC offers a 2% interest subvention on the applicable loan rate.
The scheme provides additional incentives for cooperatives in the North-Eastern region and aspirational districts.
It offers exclusive benefits for women and Scheduled Caste and Scheduled Tribe candidates.
It is a statutory corporation established under the National Cooperative Development Corporation Act (1962) to facilitate and promote cooperative development in various sectors.
The NCDC's goals include developing and promoting programs for the production, processing, marketing, storage, export, and import of agricultural produce, foodstuffs, industrial goods, livestock, and other commodities and services.
The headquarters of NCDC is located in New Delhi. It also operates through multiple regional offices.
It is a major cooperative financial institution that provides financial assistance and development support to cooperative bodies.
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