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Financing For Setting Up of Agri-Clinics and Agri-Business Centers for Agriculture Graduates

Financing For Setting Up of Agri-Clinics and Agri-Business Centers for Agriculture Graduates
Type of FacilityTerm Loan (TL)
Purpose
  • Setting up of Agri Clinics
  • Setting up of Agri Business Centers
Eligibility
  • Graduates in Agriculture and allied subjects from State Agriculture Universities (SAUs) / Central Agricultural Universities / Universities recognized by ICAR / UGC.
  • Diploma in Agriculture and allied subjects from State Agricultural Universities.
  • Science graduates with Post Graduation in Agriculture and allied subjects
Amount
  • Individuals: Maximum Rs 10 lakh,
  • Group (5 members) : Maximum Rs 50 lakh
Margin
  • Limit up to Rs 5.00 lakh: NIL
  • Limit above Rs 5.00 lakh:15% to 25%

(However, concessions will be available to SCs / STs, women and beneficiaries of North Eastern states, Hill areas)
Rate of InterestROI shall be as applicable to Agricultural advances
Security
  • Limit upto Rs 5.00 Lakh:
    1. Hypothecation of Assets created out of bank loan
  • Limit above Rs 5.00 Lakh:
    1. Hypothecation of Assets created out of bank loan
    2. Mortgage of land / other property.
Repayment5 to 10 years depending up on the cash flows
SubsidyCredit linked capital subsidy @ 25% of the capital cost of the project funded through bank loan is available from NABARD. This subsidy would be 33.33% in respect of candidates belonging to SC, ST, Women and other disadvantaged sections and those from North-Eastern and Hilly States.
Other Terms & ConditionsApplicant should complete training programme conducted by National Tanning Institute approved by MANAGE
Paper requirement
  1. Loan application ie Form No -138, & Enclosure – B2
    • All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
    • No dues certificates of the applicant from surrounding financial institutions including PACS
    • Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged
    • Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan
  2. Guarantee form F-138
    • All 7/12, 8 A & PACS dues certificate of the guarantors