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Loan scheme of NCDC - Tamilnadu
August 12 , 2024
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- Tamil Nadu has displayed a perceptible lack of interest towards the loan scheme of the National Cooperative Development Corporation (NCDC).
- It provides the assistance for weaker-section programmes and other purposes.
- Since 2019-20, the State took loans to the extent of ₹106.15 crore.
- From 2023-24, it stopped drawing any loan from the NCDC, even though it received grants of ₹5.78 crore in the two years.
- State of Andhra Pradesh had availed itself of ₹ 27,260.03 crore and Telangana, ₹38,252.79 crore.
- The rate of interest in respect of loans, if applied through State governments, for the weaker section programmes is 11.5%.
- In the event of direct funding, the rates are 11.8% (if the project cost up to ₹1 crore) and 11.92% (exceeding ₹1 crore).
- The NCDC’s rates of interest are “very high” with “many conditions”.
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