IND- KRISHI INFRA FUND (AGRICULTURE INFRA FUND)
IND- KRISHI INFRA FUND (AGRICULTURE INFRA FUND)
IND- KRISHI INFRA FUND (AGRICULTURE INFRA FUND)
Target Group:
Individual Farmers/ Farmer Producer Organisations (FPOs)/ Primary Agricultural Credit Societies (PACS)/ Agri-Entrepreneurs/ Startups in Agriculture/ Self Help Groups (SHGs)/ Joint Liability Groups (JLGs)/ Marketing and Multipurpose Cooperative Societies/ National/State Federations of Cooperatives/ Central/ State/ Local Body sponsored PPP projects/ Community Level Federations
Objective:
The scheme will facilitate setting up and modernization of key elements of the value chain including
A. Post-Harvest Management Projects
§ Supply chain services including e-marketing platforms
§ Warehouse & Silos
§ Cold Stores and Cold Chain
§ Packaging Units
§ Assaying Units
§ Sorting and grading units
§ Logistic Facilities- Reefer Van & Insulated vehicles
§ Ripening Chambers
§ Farm residue/waste management infrastructures
§ Primary Processing activities
§ Integrated primary and secondary processing activities
B. Viable Farming Assets
§ Organic inputs production – Vermicomposting etc.
§ Compressed Biogas (CBG) Plant
§ Bio stimulant production units
§ Infrastructure for smart and precision agriculture -Purchase of drones, boom sprayer, putting up specialized sensors on field, Blockchain and AI in agriculture etc., Remote sensing and Internet of Things (IOT) such as automatic weather station, Farm advisory services through GIS applications.
§ Nursery
§ Tissue culture
§ Seed Processing
§ Custom Hiring Center –farm machinery/ implements (minimum of 4 in quantity)
§ Farm/Harvest Automation (combine harvester, sugarcane harvester etc.)
§ Setting up of Decentralized Ground/ Stilt Mounted Grid Connected Solar based Power Plants (PM-KUSUM component A)
§ Standalone solar pumping system (PM-KUSUM component B)
§ Solarization of grid connected Agri-pump under PM-KUSUM component C
§ Integrated Spirulina production & processing units**
§ Sericulture processing unit
§ Honey processing
§ Projects identified for providing supply chain infrastructure for clusters of crops including export clusters.
§ Projects promoted by Central/State/Local Governments or their agencies under PPP For building viable farming assets or post-harvest management projects.
§ Hydroponic Farming
§ Mushroom farming
§ Vertical farming
§ Aeroponic farming
§ Poly house/ Greenhouse
§ Logistics facilities (including non-refrigerated/insulated vehicles)
§ Tractor
Type Of Facility: Term Loan.
Quantum Of Finance:
Based on the Project Cost Limits up to ₹2.00 crore can be sanctioned under AIF with applicable benefits. Sanctions beyond ₹2.00 crore can also be made under AIF; however, the benefits will be restricted to ₹2.00 crore only
Margin Norms:
- Term Loan: 25% (Minimum).
- (Any grant or subsidy available under any present or future scheme of Central/State government can be availed for projects under this financing facility, e.g. MIDH, PMFME, SMAM, Gobar-Dhan, PMKSY, PACS as MSC, RKVY, PM-KUSUM (A, B and C), PMEGP etc. In cases of capital subsidy such amount shall be considered as promoter’s contribution. However, a minimum of 10% of the project cost shall be mandatory as promoter’s contribution.)
- Repayment Period:
- Maximum 7 years (Inclusive of holiday period of maximum 2 Years).
Processing Charges:
As per circular on service charges related to Agri advances issued from time to time.
Rate Of Interest:
- Please refer the Lending Rates link on home page in our Bank’s Website www.indianbank.bank.in.
Credit Guarantee:
Credit guarantee coverage will be available for eligible borrowers from this financing facility under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for a loan up to Rs.2.00 Crore. The fee for this coverage will be reimbursed by the Government. In case of FPOs the credit guarantee may be availed from the facility created under FPO promotion scheme of DA&FW and NABSanrakshan Trustee Company Pvt. Ltd. However, FPOs are also eligible for reimbursement of credit guarantee fee under AIF.
Security Norms:
- Hypothecation of assets created out of Bank Finance.
- Mortgage of land & building
- Collateral security in the form of FD, NSC, LIC Policies.
- Equitable Mortgage of immovable properties
- Guarantee: Personal guarantee of partners/directors.
Credit Guarantee Coverage under CGTMSE also eligible as per the guidelines up to Rs.2.00 Cr
Subsidy / Interest Subvention:
- All loans under this financing facility will have interest subvention of 3% per annum up to a limit of Rs. 2 crore. This subvention will be available for a maximum period of 7 years. In case of loans beyond Rs.2 crore, then interest subvention will be limited up to 2 crore.
*MCLR Rate Available In Home Page
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