Agricultural Credit

• To meet the short term credit requirements for cultivation of crops, Post-harvest expenses, Produce marketing loan consumption requirements of farmer household Working capital for maintenance of farm assets and activities allied to agriculture, like dairy animals, inland fishery etc.Investment credit requirement for agriculture and allied activities like pump sets, sprayers, dairy animals etc.

• All Farmers – Individuals / Joint borrowers who are owner cultivators. Tenant Farmers, Oral Lessees & Share Croppers.
• SHGs or Joint Liability Groups of Farmers including tenant farmers, share croppers etc.

• As per Scale of Finance.

• No additional security for loan limit up to ₹ 1.60 lakh.

PURPOSE

• The purpose behind providing loan for allied activities is to give hassle free and adequate credit i.e. working capital and term loan for agriculture allied activities, mainly livestock rearing, like Dairy, Poultry, Goatery, Piggery, Fishery, etc.

ELIGIBILITY

• Individuals / SHGs having adequate experience, knowledge or training in running the activity.

LOAN AMOUNT

• As per the NABARD, the quantum of loan will depend on the unit cost with applicable margins subject to economic viability.

MARGIN

• Up to ₹ 1.00 Lakh
• Above ₹ 1.00 Lakh : 10% to 20%

REPAYMENT PERIOD

• 3 To 6 Years

SECURITY

• Hypothecation of assets be taken.
  Mortgage of land and / or third party guarantee will be taken in addition to hypothecation of asset.

We promote SHGs for farm production mainly to diversify their income generating activities, after assessing their credit worthiness on parameters such as group discipline, regularity of meetings, savings, rotation of funds, maintenance of books of accounts, group record keeping, repayment of loans etc.

DAY-NRLM (DeendayalAntyodayaYojana – National Rural Livelihoods Mission)

SHG should be in active existence at least since the last 6 months as per the books of account of SHGs.

SHG should be practicing ‘Panchasutras’ i.e. Regular meetings; Regular savings; Regular inter-loaning; Timely repayment; and Up-to-date books of accounts.

Qualified as per grading norms fixed by NABARD. As and when the federations of the SHGs come to existence, the grading exercise can be done by the Federations to support the Banks.

The existing defunct SHGs are also eligible for credit if they are revived and continue to be active for a minimum period of 3 months.

SHGs can avail either Term Loan (TL) or a Cash Credit Limit (CCL) loan or both based on the need.

All women SHGs will be eligible for interest subvention on credit up to 3 lakhs at 7% per annum. Above ₹ 3.00 lakhs and up to ₹ 5.00 lakhs @ MCLR-Y or 10 % whichever is lower.

DAY-NULM (DeendayalAntyodayaYojana – National Urban Livelihoods Mission)

NULM focuses on providing financial assistance through provision of interest subsidy on loans to support establishment of Individual & Group Enterprises and Self-Help Groups (SHGs) of urban poor.All women SHGs will be eligible for interest subvention on credit up to ₹ 3.00 lakhs at 7% per annum. For individual interest subvention on credit up to ₹ 2.00 lakhs @ 7 %.PA.

JLG (Joint Liability Group)

An informal group comprising of 5-10 individuals coming together for the purpose of availing bank loan on individual basis or through group mechanism against mutual guarantee. Generally, the members of a JLG would engage in a similar type of economic activity.

PURPOSE

• To provide financial support to low income groups specially Aganwadi Workers and Helpers who draw remunerations from any branch of the bank, for meeting all personal expenses/including other activities for economic development of family such as agriculture, weaving etc.

ELIGIBILITY

• Anganwadi workers/ Helpers drawing the remuneration from our bank branches.

AREA OF OPERATION

• All Rural, Semi Urban & Urban branches of the Bank

LOAN AMOUNT

• ₹ 1.00 Lakh or 24 months remuneration, whichever is less. The repayment schedule should be so fixed that the EMI plus other deductions should not be more than 40% of the net monthly remuneration disbursed.

REPAYMENT PERIOD

• Maximum 5 Years.

RATE OF INTEREST

• Floating

SECURITY

• NIL