Yuva Sahakar Scheme
Context:
To encourage youth participation in the cooperative sector, the National Cooperative Development Corporation (NCDC) is implementing the "Yuva Sahakar - Cooperative Enterprise Support and Innovation Scheme."
This initiative fosters newly formed cooperative societies with innovative ideas
Key Features of the Scheme
The scheme specifically targets young entrepreneur Cooperative Societies that have been in operation for a minimum of 3 months.
It is fully funded and supported by the NCDC, a statutory organization under the Ministry of Cooperation.
The primary aim is to encourage newly formed cooperative societies to pursue new and/or innovative business ideas.
Financial Provisions:
The scheme provides long-term loans with a tenure of up to 5 years.
Interest Subvention:
As an incentive, NCDC offers a 2% interest subvention on the applicable rate of interest for term loans taken for project activities.
The loan component can be dovetailed with subsidies available from other Government of India schemes, ensuring comprehensive financial support.
NCDC funding is strictly project-based.
Current Status:
For FY 2024-25, financial assistance has been sanctioned for cooperatives in states like Bihar (₹38.79 Lakh) and Madhya Pradesh (₹27.08 Lakh).
As of November 30, 2024, NCDC has sanctioned financial assistance of ₹47.34 crore to cooperatives, benefiting over 18,915 members.
No proposals have been received so far from eligible cooperatives in Himachal Pradesh or Andhra Pradesh under this scheme.