Yuva Sahakar Scheme Latest News
Recently, the Ministry of Cooperation provided details of financial assistance released to cooperatives along with beneficiaries for financial year 2022- to 2025 under Yuva Sahakar Scheme.
About Yuva Sahakar Scheme
- Yuva Sahakar – Cooperative Enterprise Support and Innovation Scheme” aims to encourage newly formed cooperative societies with new and/or innovative ideas.
- It encourages young entrepreneur Cooperative Societies which are in operation for a minimum of 3 months.
- Loan Facility: The loan provided under the scheme is a long-term loan (up to 5 years) and as an incentive, NCDC provides 2% interest subvention on its applicable rate of interest on term loan for the project activities.
- Implementation: It is being implemented by National Cooperative Development Corporation (NCDC) across the country.
Features of Yuva Sahakar Scheme
- NCDC has produced a dedicated fund with liberal traits entitling youth to avail the scheme.
- It is linked with Rs.1000 crores of the Cooperative Start-up and Innovation Fund that has been authorised by the NCDC.
- It provides more incentives to the cooperatives working in the North-Eastern region and the aspirational districts.
- Exclusive benefits are provided for women, Scheduled Caste and Scheduled Tribe candidates.
- Yuva Sahakar Scheme is a part of Sahakar 22, a Mission for Doubling Farmers’ Income by 2022.
Source: PIB
Yuva Sahakar Scheme FAQs
Q1: What is the objective of Yuva Sahakar Scheme?
Ans: Encourage young entrepreneur cooperative societies
Q2: Who implements Yuva Sahakar Scheme?
Ans: National Cooperative Development Corporation
