- National Cooperative Development Corporation (NCDC) has come up with a youth-friendly scheme ‘Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme” to cater to the needs and aspirations of the youth and attracting them to cooperative business ventures.
- The scheme will be linked to Rs 1000 crore ‘Cooperative Start-up and Innovation Fund (CSIF)’ created by the NCDC. It would have more incentives for cooperatives of North Eastern region, Aspirational Districts and cooperatives with women or SC or ST or PwD members.
Points to remember:
- The funding for the project will be up to 80% of the project cost for these special categories as against 70% for others.
- Interest Rate: 2% less than the applicable rate of interest on term loan
- Project cost up to Rs 3 crore including 2 years moratorium on payment of principal.