Individuals, partnership firms or companies engaged in activities
allied to agriculture like poultry, piggery, dairy, fishing, supply of
cattle feed, etc., and as per RBI circulars
Security :
Any tangible asset owned by loan applicant/proposed sureties, having sufficient value commensurate with the amount of loan and which are easily
marketable (immovable property, deposits, LIC policies, NSCs, KVPs, vehicles, etc.)
Sureties :
Two
Margin :
As mentioned under separate sub-heading herein
Amount of Loan :
Upto 70% of the project cost and subject to credit exposure limit
Rate of Interest :
As decided by the Board and HO circulars
Repayment Period :
Normally 5 years maximum. However, the repayment period may be
changed depending on the feasibility of the project/cash flows
Working capital limits :
May be allowed if found necessary.
Other requirements :
Experience in the concerned line of activity
Project Report/quotations/estimates, permission / license /
approvals from competent authorities like Health Dept., Water /
Electricity Dept., Municipality/Panchayat, Capt. of Ports, Fisheries
Dept. (in case of Fishing Trawlers)
Proof of arrangements for marketing the products of the unit/copies
of B/S, P/L A/c, I.T. Returns for last 3 years in case of already
existing unit
Documentation :
Loan Application in the appropriate Form
Joint & Several Demand Promissory Note
Agreement for loan
Agreement for Mortgage/Hypothecation/Assignment of LIC Policies or any
other tangible security acceptable to the Bank
Agreement for salary deduction u/s 49 of MCS Act if borrower/surety
is/are salaried persons
The financed unit/securities should be comprehensively insured against
all possible risks
Valuation of security to be hypothecated/mortgaged, latest survey report
in case of Fishing Trawlers
Any other relevant document depending on the purpose/security of the loan
