NCDC posts net profit of Rs 169.30 cr in FY15

National Cooperative Development Corporation (NCDC) has posted a net profit of Rs 169.30 crore in FY 2014-15, the government said today.
Commending the performance of NCDC in a general council meeting held here today, Agriculture Minister Radha Mohan Singh said the Corporation disbursed Rs 5,736 crore in the 2014-15 fiscal, exceeding the target of Rs 4,800 crore.
"NCDC has posted a profit of Rs 169.30 crore. Net NPA (non-performing assets) of the Corporation was maintained at 'Zero' and recovery rate was 99.89 per cent," he said in a statement issued by the Agriculture Ministry.
The annual report and annual accounts of NCDC for 2014-15 financial year was considered in the meeting, which will be placed before Parliament in the ongoing Winter session.

Emphasising the role of agri-cooperatives, Singh said, "Development is a continuous process and efforts are on to make NCDC's assistance more attractive and affordable."
The government is particularly giving special attention to development of cooperatives in the North Eastern states, he said, assuring full support for accelerating growth of the cooperative sector.
NCDC was established by an Act of Parliament in 1963 as a statutory Corporation under the Ministry of Agriculture. Its basically plans, promotes and finances programmes for production, processing, marketing, storage, export and import of agri-produce.