NCDC's Rs 5,271-crore credit disbursal in FY14 exceeds target

NEW DELHI: Government's agri-financing body National Cooperative Development Corporation (NCDC) disbursed Rs 5,271 crore in 2013-14, about 17 per cent higher than the target set for the same period.

NCDC provides financial assistance to cooperatives, including those from weaker sections, for infrastructure and business development among others.

"NCDC recorded the highest ever sanction of Rs 7,758 crore and disbursement of Rs 5,271 crore recording an increase of 17 per cent higher achievements in relation to the targets for the year 2013-14," an official statement said.

The Corporation posted an all time high pre-tax profit at Rs 255 crore. Net-NPA (non performing assets) was maintained at 'Zero' and recovery rate was 99.88 per cent, it added.

At the 76th General Council meeting of NCDC here, Agriculture Minister Radha Mohan Singh said, "The co-operatives should play a major role in increasing growth rate of agriculture...NCDC should take steps in getting remunerative prices to farmers for agricultural products."

With NCDC certified as the ISO: 9001:2008 organisation would benefit it in increasing its business through better client orientation, timely delivery of services and continual improvements in the management practices, he said.

The General Council meeting approved the Annual Report 2013-14 and Annual Accounts of NCDC.