As per the bye-laws of National Co-operative Exports Limited (NCEL), there is a provision to distribute dividend to its members out of the net profit of the Society. Clause 55(2)(a) of the Bye laws provides that, after mandatory statutory appropriations, the Society may pay dividend to members on the face value of their paid-up share capital at a rate up to 20%, as recommended by the Board and approved by the General Body. Further, clause 58 lays down the manner of dividend payment, eligibility, and handling of unpaid dividends.

Bharatiya Beej Sahakari Samiti Limited (BBSSL) provides benefits in addition to dividends to its member cooperative societies as under:

1. Payment of service charges to member cooperative societies for seed production, processing, and marketing undertaken through BBSSL.

2. The procurement of seed is done at the price which is higher of the following:

(i) Minimum Support Price (MSP) plus 10%

(ii) Price fixed by State Seed Corporation

(iii) Model price of Mandi.

3. The following benefits are provided to the member cooperative societies marketing the BBSSL products:

(i) No security deposit is collected.

(ii) 10 to 18% Trade margin (discount) is provided.

4. Training, education, and technical guidance provided to farmers on scientific seed production, crop agronomy, and best agricultural practices at free of cost.

BBSSL does not provide additional benefits to its member farmers in the form of any specific incentive schemes or bonuses.

This information was given by Union Minister for Home and Cooperation Shri Amit Shah in a written reply in Rajya Sabha.

******

AK/AP

(Release ID: 2245133) Visitor Counter : 88