PGB Scheme for Financing Agri. Clinis & Agri. Business Centers

 

 

 

 

Purpose

(i) To supplement the efforts of Government Extension System.
(ii) To make available supplementary sources of input supply and services to needy farmers.
(iii) To provide gainful employment to Agricultural Graduates in new merging areas in agricultural sector.

     

 

Eligibility

Graduates in Agriculture and allied subjects, Diploma holders with at least 50% marks, Biological science graduates, Degree courses recognized by UGC having more than 60% course contents in Agriculture and allied activities.

     

 

Extent of Loan

Need based subject to the following:
a) Project by individual = 20 lac (Rs. 25 lac in case of extremely successful individual projects).
b) Project in groups = 100 lac (Minimum of Five Individuals)

     

 

Nature of Facility

Working Capital, Investment Credit or Composite loan.

     

 

Margin

NIL up to 5.00 lac
25% above Rs. 5.00 lac

     

 

Repayment

  1. Loan shall be repayable in monthly/ quarterly/ half-yearly/ yearly schedule depending upon the income generation from the project.
  2. The repayment schedule will be drawn on the total amount of the loan (including subsidy) in such a way that the subsidy amount is adjusted after liquidation of net bank loan (excluding subsidy).
  3. Repayment period will depend on the nature of activity and will vary between 5 to 10 years. The repayment period may include a maximum grace period of 2 years (to be decided as per needs of individual projects).
     

 

Security

i.          Upto Rs. 5 Lakh:
Hypothecation of assets created out of bank loan.

ii.         Above Rs.5 Lakh:
a)         Hypothecation of assets created out of bank loan.
And
b)         Charge on land as per Agricultural credit Operations and Miscellaneous Provisions Act of the State concerned/ Mortgage/ Equitable Mortgage of agricultural land/ other suitable property valued at 150% of loan amount.
Or
Alternate Security, such as charge/ lien over liquid securities such as term deposits/ NSCs/ KVPs, etc., which may be considered adequate.
Or
Suitable third party guarantee.

 

 

For more detail, please contact to our nearest branch.