India, Feb. 3 -- The Government of India has issued a release:
(b) Under Central Sector Scheme "Grant-in-Aid to NCDC for strengthening of CSMs" grant of Rs.1000 Cr. was provided by Central Government to NCDC to enable it to provide loans of Rs.10,000 Cr. to CSMs by leveraging the grant-in-aid. NCDC in turn has disbursed Rs.10,005 Cr. to CSMs under the scheme.
Totally 56 Cooperative Sugar mills have benefitted under the scheme.
(c) The Ministry got a 3rd party evaluation conducted for the impact of the scheme. It was found that the NCDC assistance offered relatively lesser rate of interest than counterparts and set a benchmark for other banks and financial institutions in terms of transparency, documentation and easy access enabling CSM easy access to finance. As a result, outstanding Cane bills reduced significantly indicating smooth business operations and timely payout to farmers & workers.
(d) The scheme did not have any interest subvention component. NCDC, as the nodal implementation agency for the scheme has robust guidelines for recovery monitored by its Board of Management.
This information was given by Union Minister for Home and Cooperation Shri Amit Shah in a written reply in Lok Sabha.
Disclaimer: Curated by HT Syndication.
