{"id":4164,"date":"2025-01-09T15:58:45","date_gmt":"2025-01-09T10:28:45","guid":{"rendered":"https:\/\/indianlawsociety.com\/?p=4164"},"modified":"2025-01-12T15:33:24","modified_gmt":"2025-01-12T10:03:24","slug":"the-national-co-operative-development-corporation-act-1962","status":"publish","type":"post","link":"https:\/\/karma.law\/insights\/law-library\/the-national-co-operative-development-corporation-act-1962\/","title":{"rendered":"The National Co-operative Development Corporation Act, 1962"},"content":{"rendered":"\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button cs-button-animated\" href=\"https:\/\/www.indiacode.nic.in\/handle\/123456789\/1462?view_type=browse\" target=\"_blank\" rel=\"noreferrer noopener\"><span><span>Download Act<\/span><span>Download Act<\/span><\/span><\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>Ministry of Agriculture and Farmers Welfare<\/p><\/blockquote><\/figure>\n\n\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><span class=\"ng-star-inserted\">The National Co-operative Development Corporation Act, 1962, is a key legislation in India that provides for the establishment and regulation of the National Co-operative Development Corporation (NCDC). This Act aims to promote the production, processing, marketing, storage, export, and import of agricultural produce, foodstuffs, and other related commodities through cooperative principles. This article provides a summary of the Act, highlighting its background, key provisions, and penalties.<\/span><\/p>\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">1. Act Background and Ministry:<\/span><\/strong><\/p>\n<ul class=\"ng-star-inserted\">\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Background:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The National Co-operative Development Corporation Act, 1962, was enacted to provide for the establishment and regulation of a corporation to plan and promote programs for the production, processing, marketing, storage, export, and import of agricultural produce, foodstuffs, and other related commodities on cooperative principles. It reflects the government&#8217;s commitment to supporting cooperative societies for agricultural and rural development.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\">\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Ministry:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Act is primarily administered by the Ministry of Agriculture and Farmers Welfare, Government of India.<\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">2. Enactment Date, Number of Chapters, Number of Sections:<\/span><\/strong><\/p>\n<ul class=\"ng-star-inserted\">\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Enactment Date:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Act was enacted on August 31, 1962.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Number of Chapters:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Act is divided into twelve chapters.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\">\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Number of Sections:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Act contains 24 sections, with some sections having sub-sections and amendments.<\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">3. Act Governed By:<\/span><\/strong><\/p>\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><span class=\"ng-star-inserted\">The Act is primarily governed by the Central Government, which has the power to appoint the members of the Corporation and the General Council, and to make rules and regulations for carrying out the purposes of the Act. The Board of Management of the Corporation is responsible for the day-to-day functioning of the NCDC.<\/span><\/p>\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">4. On Whom It Is Applicable:<\/span><\/strong><\/p>\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><span class=\"ng-star-inserted\">The Act applies to:<\/span><\/p>\n<ul class=\"ng-star-inserted\">\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Co-operative Societies:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0Societies registered or deemed to be registered under the Co-operative Societies Act, 1912, or under any other law in force.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">National Co-operative Development Corporation (NCDC):<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The corporation established under this Act.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">State Governments:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0State governments receiving financial assistance from the NCDC.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Members of the Corporation:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0Individuals appointed to the Board and General Council of the NCDC.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\">\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Managing Director, Officers, and Employees:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0Individuals employed by the NCDC.<\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">5. Penalties\/Punishments:<\/span><\/strong><\/p>\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><span class=\"ng-star-inserted\">The Act prescribes penalties for violations of its provisions, including:<\/span><\/p>\n<ul class=\"ng-star-inserted\">\n<li class=\"ng-star-inserted\">\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Fines:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Act does not specify any specific penalties for contravention of its provisions, but it empowers the Board to make regulations and the Central Government to make rules, which may include penalties for non-compliance.<\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">6. Important Pointers:<\/span><\/strong><\/p>\n<ul class=\"ng-star-inserted\">\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Establishment of NCDC:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Act establishes the National Co-operative Development Corporation (NCDC) as a body corporate.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Functions of NCDC:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The NCDC&#8217;s functions include planning and promoting programs for agricultural produce, foodstuffs, livestock, and other related commodities through cooperative societies.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Financial Assistance:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The NCDC provides loans, grants, and subsidies to State Governments for financing cooperative societies.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">National Co-operative Development Fund:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The NCDC maintains a fund to which all money received by the corporation is credited.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Management of the Corporation:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Corporation is managed by a Board of Management and a General Council.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Power to Make Rules:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Central Government has the power to make rules for carrying out the purposes of the Act.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Power to Make Regulations:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Corporation has the power to make regulations for the conduct of its business.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Annual Report:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Corporation is required to submit an annual report to the Central Government.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Accounts and Audit:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The accounts of the Corporation are audited by the Comptroller and Auditor-General of India.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\" style=\"text-align: justify;\">\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Power to Borrow Money:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Corporation is empowered to borrow money for its functions.<\/span><\/p>\n<\/li>\n<li class=\"ng-star-inserted\">\n<p class=\"ng-star-inserted\" style=\"text-align: justify;\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Grants, Donations, etc.:<\/span><\/strong><span class=\"ng-star-inserted\">\u00a0The Corporation may receive grants, donations, and other benefits.<\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"ng-star-inserted\"><strong class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">7. Download Act Copy:<\/span><\/strong><\/p>\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/karma.law\/insights\/wp-content\/uploads\/2025\/01\/7.-The-National-Co-operative-Development-Corporation-Act-1962.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of 7. The National Co-operative Development Corporation Act, 1962.\"><\/object><a id=\"wp-block-file--media-eba23893-3be8-4925-ad3c-dd731ac78a7e\" href=\"https:\/\/karma.law\/insights\/wp-content\/uploads\/2025\/01\/7.-The-National-Co-operative-Development-Corporation-Act-1962.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">7. The National Co-operative Development Corporation Act, 1962<\/a><a href=\"https:\/\/karma.law\/insights\/wp-content\/uploads\/2025\/01\/7.-The-National-Co-operative-Development-Corporation-Act-1962.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-eba23893-3be8-4925-ad3c-dd731ac78a7e\">Download<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"The National Co-operative Development Corporation Act, 1962, establishes the NCDC to promote agricultural and rural development through cooperative societies, providing financial and technical support.","protected":false},"author":1,"featured_media":5796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[25,923],"tags":[1126,1129,1127,1128,1125,1024],"class_list":{"0":"post-4164","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-law-library","8":"category-ministry-of-agriculture-and-farmers-welfare","9":"tag-agricultural-development","10":"tag-cooperative-law","11":"tag-cooperative-societies","12":"tag-national-co-operative-development-corporation-act","13":"tag-ncdc","14":"tag-rural-development","15":"cs-entry","16":"cs-video-wrap"},"yoast_head":"<!-- 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