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Purpose
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To meet the short term credit requirement of rearing of animals, birds, fish, shrimp, other aquatic organisms, capture of fish.
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Eligibility
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A)Fishery
(I)Inland Fishery & aquaculture- Fishers, Fish Farmers, SHGs, JLGs/Women Groups
(II)Marine Fishery- Beneficiary listed at (A) (I) above, who own or lease registered fishing vessel/boat, necessary fishing license
(B) Poultry& Small Ruminants
Farmers, poultry farmer either individual or joint borrowers, JLGs or SHGs including tenant farmers of sheep/goats/pigs/poultry/birds/rabbit
(C) Dairy
Farmers & Dairy farmers either individual or joint borrower, JLGs or SHGs including tenant farmers
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Nature of facility
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*Short-term revolving credit
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Limit
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As per the scale of finance fixed by the District level Technical Committee (DLTC) based on local cost worked out on the basis of per acre/ per unit/ per animal/ per bird etc.
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Margin
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Upto 1.60 Lakh- NIL
Above 1.60lakh- 25% of project
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Security
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*Primary -
- Hypothecation of livestocks, feed, medicines, and assets created out of bank's finance.
* Collateral -
- No collateral for limit upto Rs 1.60 Lakh .(In tie ups-up to Rs.3.00 Lakh-
No security required)
- For limits above Rs 1.60 Lakh, collateral security is required based on activity of finance.
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| Rate of Interest
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(all limits put together)
Limit Upto Rs 3,00,000/- (Interest Subvention)
Above Rs 3.00 Lakh up to Rs 10.00 lacs
Above Rs 10.00 lakh upto Rs 100 lakh
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7%
*MCLR + 2.50%
*MCLR + 3.00%
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Interest Subvention
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@2% p.a and prompt repayment incentive @3% will be available animal husbandry and fishery activities (New KCC holder farmers of Animal Husbandry and fisheries are concerned, the benefit of IS and PRI will be allowed up to credit limit of Rs 2 Lakh per annum)
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Processing Charges
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*Nil
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Documentation Charges
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*NIL
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Repayment
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Repayment will be fixed as per the cash flow/ income generation pattern of the activity undertaken by borrower
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