NCDC bill passed in Upper House amid Opposition walkout

On Wednesday, the Rajya Sabha voted to pass the National Co-operative Development Corporation (Amendment) Bill, 2026, after the Lok Sabha had already approved it the previous day. Prior to the voting, opposition parties withdrew their support, causing a walkout. The amendment broadens the National Co-operative Development Corporation's mandate, allowing it to directly lend and grant money not only to cooperative societies but also to other organizations involved in cooperative development, provided the money is used for the benefit of cooperatives.

The amendment comes as the government believes the cooperative sector has "expanded and diversified considerably" over the years. Previously, statutory bodies, state government agencies, and other specialized organizations provided services to cooperatives, but the NCDC could not directly finance these entities due to legal restrictions.

This resulted in procedural delays and limited uptake of proposals. The bill does not include any provision for additional budgetary financial assistance from the government; it only expands the mandate and financial scope of the NCDC. The bill also updates obsolete statutory references, expands the definition of foodstuffs, and grants the corporation the power to collect and share credit information with banks and financial institutions.

Additionally, it allows the NCDC to acquire equity in entities engaged in cooperative development, subject to prior approval from the Centre.