IND PASHUDHAN Mitra- Animal Husbandry Infrastructure Development Fund (AHIDF)
IND PASHUDHAN Mitra- Animal Husbandry Infrastructure Development Fund (AHIDF)
Target Group:
- Individual Entrepreneurs, Private Companies, MSME, Farmer Producer Organizations (FPOs) and Section 8 Companies (Non-Profit entities), Dairy Cooperatives.
Objective:
- Dairy Processing.
- Value added dairy product manufacturing.
- Meat processing and value addition facilities.
- Animal Feed manufacturing units.
- Breed Improvement Technology and Breed Multiplication Farm
- Setting up of Veterinary vaccine and drug protection facilities
- Animal waste to wealth management (Agri waste management)
Type of Facility:
- Term Loan
Quantum of finance:
- Based on Project cost
- Loan under AHIDF shall not be provided for acquisition of land in any manner such as purchase, transfer, lease, accession/addition etc.,
Margin Norms:
- Micro and Small units: 10%
- Medium Enterprises: 15%
- Other categories: 25%
Repayment Period:
- Maximum 10 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
Security Norms:
- Hypothecation of assets created out of Bank Finance.
- Equitable Mortgage of land & building/ Immovable properties.
- Collateral security in the form of FD, NSC, LIC Policies.
- Equitable Mortgage of immovable properties
- (Minimum Security Coverage Ratio of 1.20 should be maintained at all times.)
- Guarantee: Personal guarantee of partners/directors.
- For accounts within MSME Defined Ceilings: Credit Guarantee cover is available for 25% of the credit facility under this AHIDF scheme.
Subsidy / Interest Subvention:
- Loans under this financing facility are eligible for interest subvention of 3% per annum.
- The Department will pay Interest Subvention amount in advance/ upfront to the lending bank for the first year on request of the scheduled bank.
- Interest subvention from second year onwards would be released based on Non NPA borrowers entitlement claimed by the scheduled bank every year in advance.
- Defaulter of repayment of loan in any given year will not be eligible for Interest Subvention.
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