|National Cooperative Development Corporation|
Genesis of NCDC
The Govt. of India constituted an all India Rural Credit Survey Committee under the aegis of Reserve Bank of India. This committee submitted its report in 1954, designed and laid the foundation of farmers cooperative for mordernising agriculture and fostereing rural economic activities for the benefit of rural community. The committee recommended that while the RBI - now the National Bank for Agirculture and Rural Development (NABARD) should take upon itself the task of promoting and financing of rural credit cooperatives, the Government of India should set up a statutory Corporation for spearheading the development of other rural ecnomic activities in the cooperative sector. It was with this background that the National Cooperative Development Warehousing Board was set up in 1956. In 1963 the warehousing activity was separated and NCDC was Created.
NCDC was established in March 1963, under an Act of Parliament as a succsessor organisation to the National Cooperative Development and warehousing Board set up in 1956, in pursuance of the recommendation of the All India Rural Credit Survay Committee(1954) under the aegis of Reserve Bank of India.