The Rajya Sabha on Wednesday (August 12, 2026) passed a bill to broaden the mandate of the National Cooperative Development Corporation (NCDC) to give loans and grants directly to cooperative societies in the country.
Political Context
The proposed amendment only expands the mandate and financial scope of NCDC”. The NCDC, a statutory organisation under the Ministry of Cooperation, was established in 1963 under the National Cooperative Development Corporation Act, 1962. Earlier reporting noted: Also Read: Parliament Monsoon Session Day 18 Earlier reporting noted: In the reply to a debate on the Kerala (Alteration of Name) Bill, Minister of State for Home Affairs Nityanand Rai said the Bill was a step in continuation of the Kerala Assembly’s resolution in 2024 urging the Union government to change the name of the State to Keralam.
Replying to the debate on the bill, Minister of State for Cooperation Murlidhar Mohol said, “This bill does not have any provision for additional budgetary financial assistance by the government. “These amendments are not just limited to strengthening NCDC but will strengthen the entire cooperative ecosystem, make it more modern and independent while also contributing to the country’s progress,” Mr. Mohol said. “It is proposed to enable the corporation to provide loans and grants directly to the cooperative societies or any entity engaged in cooperative development to the extent such funds are used for cooperative societies, subject to furnishing security as may be required by the corporation,” the statement of objects and reasons of the bill said. Statutory bodies, State government agencies and other specialised entities are increasingly engaged in providing infrastructure, technology, processing, marketing, financial and other services for the development of cooperatives, according to the statement. “Consequently, such proposals are required to be routed through State governments or co-operative societies, resulting in procedural delays and limited uptake,” the statement said. “The Bill provides that the State of Kerala will be known as the State of Keralam, and hence there is a proposal to rename the State of Kerala to Keralam,” he said. “The proposal to change the name of the State from Kerala to Keralam is not only a matter of pride for the people of Kerala but also for all Indians,” he said.
Earlier reporting noted: The Minister maintained that the Union government was committed to removing all symbols of slavery, names, signs, flags of institutions, or statues of great personalities that repeatedly wound the hearts of Indians and establish all things, signs, or works that represent the pride of India’s heritage.
