Rajya Sabha Passes NCDC Amendment Bill to Expand Cooperative Financing

The Rajya Sabha on Wednesday, August 12, 2026, passed the National Cooperative Development Corporation Amendment Bill, 2026, by a voice vote, finalizing legislation that expands the financial mandate of the National Cooperative Development Corporation (NCDC). The bill, which allows the statutory body to provide loans and grants directly to cooperative societies and other entities engaged in cooperative development, was passed by the Lok Sabha on Tuesday, August 11.

The amendment to the National Cooperative Development Corporation Act, 1962, aims to streamline financial assistance for the cooperative sector. Minister of State for Cooperation Murlidhar Mohol, who moved the bill in both houses, stated that the changes would strengthen the entire cooperative ecosystem. "This bill does not have any provision for additional budgetary financial assistance by the government. The proposed amendment only expands the mandate and financial scope of NCDC," Mohol said during the Rajya Sabha debate. He added that the amendments would make the corporation more effective and modern, contributing to the country's progress.

The bill's statement of objects and reasons outlines that the NCDC,...