Financial Daily from THE HINDU group of publications
Wednesday, Apr 07, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 07, 2004 |
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Agri-Biz & Commodities
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Co-operatives NCDC offers financial aid to rubber co-ops Our Bureau
Kochi , April 6 THE National Co-operative Development Corporation (NCDC) today offered financial support to rubber co-operative societies through the Rubber Board. "I call upon the Rubber Board to consider utilising services of NCDC as a nodal agency for routing the Board's assistance to rubber co-operatives. Thus, the grant-in-aid from Rubber Board could be dove-tailed with term loan from NCDC and provided to rubber co-operatives as a package of merit of each case," said Mr Dinesh Rai, Managing Director of NCDC. Inaugurating a workshop on rubber processing and marketing co-operatives here, Mr Roy said similar arrangements of collaborative funding already exist between NCDC and Ministry of Food Processing Industries, National Horticulture Board and Department of Fisheries etc. "Such an arrangement for collaborative funding with Rubber Board will enable rubber co-operatives to meet their entire financing requirements, including margin money and working capital at one place," he said. Mr Roy also suggested that the Rubber Producers' Societies (RPS), formed in the mid-80s as self help groups of small growers, be brought under the fold of co-operative so that they can avail themselves of institutional finance for increased processing and marketing operations. "It is understood that the RPS' have not been able to increase their business on account of non-availability of adequate finances for development of infrastructure for processing and marketing," Mr Roy pointed out. He said during 2003-04, NCDC had sanctioned financial assistance of Rs 62.61 crore and released Rs 56.67 crore for development of rubber co-operatives. This includes a margin money/working capital of Rs 19.69 crore. Major chunk of the assistance has gone to Kerala, Mr Roy said.
More Stories on : Co-operatives | Rubber
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