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Class : 11
Unit : Business

What is National Co-operative Development Board (NCDB). Explain the function of NCDB.

Ans : National Cooperative Development Board (NCDB) was established in 2049 BS under National Development Board Act 2049. It is established to promote mutual socio-economic cooperation among the community through the Cooperative organization. It provides support to establish and to promote various types of cooperative organization. Its main motive is to formulate rules and regulation related to Cooperative movement. National Cooperative Development Board is managed by an executive committee formed under the chairmanship of Ministry of Agriculture. Other members of executive committee involve associate chairman nominated by Government of Nepal, government of Nepal Rastra Bank, Secretaries of various Ministries, register of cooperative department and other members. Function of National Cooperative Development Board i) Formulation of policies:- It formulates policies necessary for the promotion and development of cooperative societies through co-operative. The developed policies should be recommended to Government of Nepal for their implementation. ii) Support to Government of Nepal:- It provides support to Government of Nepal to implement plans and policies in an effective way for the development of cooperative movement. iii) Conduct necessary study and research:- It conducts the necessary study and research for the development of operational area of the cooperative society. iv) Provide credit facilities:- It provide financial assistance to Cooperative organizations in terms of loan in subsidy rate of interest. This function of board facilitates the Cooperative organization to overcome the problem of financials scarcity. v) Investment in cooperative organizations:- It invest in cooperative organization if it thinks necessary and take active part in management. It also purchases shares of cooperative banks and cooperative finances. vi) Provide guarantee for securities:- It provides guarantee for securities to banks and financial institution on behalf of the cooperative organization which apply for loan and advance. It also provides guarantee while cooperative organization is issuing debentures. vii) Provide technical assistance:- It gives technical assistant to cooperative society according to their requirement. Technical assistant consists of providing training, managing workshop, seminar to promote Cooperative movement. viii) Promote cooperative business:- It promotes cooperative business by maintaining coordination between cooperative societies and government authorities while developing new programs and policies.
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