CROP LOANS AND ITS DERIVATIVE S
1. Indian Bank Kisan Credit Card ( KCC )
2. Golden Harvest Scheme
3. Sugar Premium Scheme
TRACTOR FINANCE
4. Financing Agriculturist For Purchase Of Tractors
5. Purchase Of Second Hand ( Pre Used ) Tractors By Agriculturist
6. Loans For Maintenance Of Tractors Under Tie-Up With Sugar Mills
JEWEL LOANS
7. Agricultural Jewel Loan Scheme
8. Secured Overdraft Against The Pledge Of Gold Ornaments ( SODGO )
STRUCTURED LOANS
9. Indian Bank Kisan Bike ( IBKB )
10. Indian Bank Agri Vendor Bike Scheme
11. Agricultural Produce Marketing Loan
12. Kamadhenu Milk Vendor Scheme
13. Joint Liability Group ( JlG )
14. Agricultural Godowns/ Cold Storage
15. Agri Clinic And Agri Business Centres
16. Land Purchase Scheme
MICROFINANC
17. SHG - Bank Direct Linkage
18. Vidhya Shobha-SHG Education Loan
19. Griha Lakshmi -SHG Housing Loan
20. Gramin Mahila Sowbhagya Scheme and SHG Bank Linkage Programme-Direct Linkage to SHGs
MICRO-INSURANCE
21. Janashree Bima Yojana
22. Universal Health Care
23. Contract Farming
24. Financial Inclusion
25. Agricultural Consultancy & Technical Services ( ACTS )
26. Rehabilitation Of Overdue Borrowers Under Agricultural Sector
27. Agri Stpl/Mtl Loan Applications ( As Per Gupta Committee Recommendations )
28. Govt. Sponsored Schemes For Agri Business Development ( Subsidylinked )*
1. INDIAN BANK KISAN CREDIT CARD ( KCC )
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Eligibility:
All Farmers
Purpose:
- To meet the short-term credit requirements for cultivation of seasonal, annual and perennial crops.
- The district wise scale of finance will be taken as indicatory cost.
- Besides the above, KCC limit will be arrived at as given below:
- Post-harvest / Household requirements of the farmer at 10% of the limit fixed subject to a maximum of Rs.25000/- per farmer.
- 10% towards maintenance of farm assets subject to a maximum of Rs.25000/- per farmer.
- Provision for escalation in the cost of cultivation at 20% towards increase in scale of finance at 10% per year.
IBKCC PLUS (INDIAN BANK KISAN CREDIT CARD PLUS ):
This scheme additionally caters to the needs of Agri Medium term loan requirement of the farmers also in the KCC scheme as "KCC Plus". The eligible loan amount is arrived as below.
20% of the Maximum Permissible Limit (MPL) will be built as a term loan to enable the farmer to purchase farm assets based on his/her requirements including Agri/Allied activities.
2. GOLDEN HARVEST SCHEME
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Eligibility :
- All Paddy & Sugarcane Growers in the State of Andhra Pradesh and Tamil Nadu only.
Purpose:
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To enhance scale of finance covering the cost of cultivation for high yielding crops irrigated crops with high seed cost and dose of fertiliser.
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To mitigate the problem of under financing, the scale of finance for two major crops in Andhra Pradesh and Tamil Nadu viz., Sugarcane and Paddy have been revised.
Amount of Loan:
Sugar Cane:
Presently Rs.600 per gram (or) 70% of the market value of the jewels to be pledged, whichever is lesser.
Paddy (for TN):
Scale of Finance: 50% of value of the estimated yield or Rs.10,000/- per acre whichever is lower.
3. SUGAR PREMIUM SCHEME
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Eligibility:
- Farmers supplying cane to reputed sugar Mills for the past three years
- Term loan should also be recommended by the Mill.
Purpose:
To enhance credit facility to the registered cane growers for investment credit requirements of farm activities besides crop loan.
Total Project Cost:
Crop Loan as per “Golden Harvest Scheme”
60% of value of the estimated produce or Rs.20,000/- per acre whichever is lower.
4. FINANCING AGRICULTURIST FOR PURCHASE OF TRACTORS
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Eligibility:
Farmer having minimum of 4 acres of irrigated land/ 8 acres of dry land .
Purpose:
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To improve agricultural production/productivity for mechanising the farming activities.
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To purchase Tractors /power tiller together with necessary equipments like cultivator, tiller, mould board plough, disc harrow, cage wheel, trailer, threshers, harvesters etc.
Total Project Cost:
Based on the quotation/invoice submitted for the vehicle and the implements to be purchased.
5. PURCHASE OF SECOND HAND (PRE USED) TRACTORS BY AGRICULTURIST
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Eligibility:
Borrower employed in Govt /Semi Govt./reputed (P) sector: -
(Minimum 4 acres of irrigated land (or) 12 acres of dry land), OR
Having own business:- (With known source of minimum income of Rs.5000 per month).
Purpose:
- To Mechanise the farming activities for increasing the agricultural production.
- To meet out the needs of farmers who can not afford to buy a new tractor.
Loan Amount:
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Persons engaged in cultivation of irrigated cash crops under tie up arrangement/contract farming :- (5 acres of irrigated land/ 15 acres of dry land).
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Persons engaged in cultivation of all other field crops : - (6 acres of irrigated land/18 acres of dry land).
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The cost certified by surveyor/approved by Banks/insurance companies (or) by applying 7% depreciation straight line method p.a. whichever is less.
6. LOANS FOR MAINTENANCE OF TRACTORS UNDER TIE-UP WITH SUGAR MILLS
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Eligibility:
- Tractor should be less than 15 years old.
- The borrower should be a registered cane grower with sponsoring sugar mill.
Purpose:
- To meet the cost of repairing and maintenance of tractors by farmers registered with sugar mill.
Amount of loan:
- A Maximum of Rs.50000/- can be considered for repairs of tractors.
- For replacement of engine, it should be as per the cost of engine of standard make of the tractor.
- The enhanced limit be in conformity with the price of standard make and verified with reference to invoice.
7. AGRICULTURAL JEWEL LOAN SCHEME
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Eligibility :
Purpose:
To meet the short-term credit requirements for purchase of inputs like fertilizers, pesticides, seeds and other genuine expenses for carrying out the seasonal agricultural operations.
Amount of loan:
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Quantum of loan amount should be determined based on the scale of finance fixed for individual crops subject to the maximum advance value based on the Net Weight of jewel ornament fixed from time to time, which is now pegged at Rs 600 per gram or 70% of market value of the jewels to be pledged whichever is lower.
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There is no per borrower ceiling on jewel loan. However the limit is to be arrived based on the land holdings.
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Jewel loan is available on all working days.
8. SECURED OVERDRAFT AGAINST THE PLEDGE OF GOLD ORNAMENTS ( SODGO )
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Eligibility:
Farmers who need loan of Rs.25000/- and above against the pledge of gold ornament alone are entitled for SOD. Advance value based on the value of jewels as per existing guidelines.
Objective:
Loan Amount:
Presently Rs.600 per gram (or) 70% of the market value of the jewels to be pledged, whichever is lesser.
9. INDIAN BANK KISAN BIKE SCHEME (IBKB)
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Eligibility:
- To enable farmers in purchasing Motor Cycle for transportation of small quantities of agricultural inputs.
- Age: 18-55 years.
- Possesses driving license.
- Should own landed properties
- 1 acre irrigated/2 acre dry land (For upto Rs.25,000)
- 2 acre irrigated/4 acre dry land (Rs.25,000/- to Rs.50,000/-)
Purpose :
To enable farmers in purchasing Motor Cycle for transportation of small quantities of agricultural inputs.
Amount of loan:
As per Quotations from authorised dealers.
10. INDIAN BANK AGRI VENDOR BIKE SCHEME
Eligibility:
- Age: 18-55 years.
- Possesses a permanent valid driving license.
- Should be a permanent resident of the village
- Monthly income Rs.2500/- (Minimum)
Purpose:
To enable the Small vendors or SHGs in rural / semi urban/ metropolitan areas transporting the Agri or allied produces to the market centres / outlets.
Amount of loan:
Maximum of Rs.25000/- (Road price inclusive of Registration, Road Tax and Insurance)
11. AGRICULTURAL PRODUCE MARKETING LOAN
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Eligibility:
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All farmers irrespective of availing crop loan or not and having stored their agri. produce in CWC, SWC, or private godowns approved/licensed by appropriate authorities like FCI, CWC, SWC, CPWD, AGRI marketing committees, NABARD/NHB.
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Individuals/Partnership firms/Companies etc. intend to construct cold storage units/godowns for storing agri. product irrespective of the location for onward lending to farmers against their agri-produce.
Purpose:
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To provide finance against pledge of Warehouse receipts, godowns/cold storage receipts etc.
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To avoid distress sale of agri. produce by the farmers and enable them to get a remunerative price.
Loan Amount:
70% of the wholesale market price of the produce stored Maximum of Rs.10.00 lakhs.
12. KAMADHENU MILK VENDOR SCHEME
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Eligibility :
- Milk vendors collecting milk either from retail or wholesale, supplying to various chilling plants.
- Preferably vendors having tie up with reputed Dairy/Hotels/Sweet stalls etc.
Objective:
- Infusion of more investment credit for capital formation under dairy sector.
- To generate and accelerate the demand for short-term credit in agriculture and other allied activities.
Purpose:
Term loan:
- Purchase of vehicle used in transportation
- Other accessories required.
13. JOINT LIABILITY GROUP (JLG)
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Eligibility:
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JLGs can be formed primarily consisting of tenant farmers and small farmers cultivating land with out possessing proper title of their land.
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JLG members should be of similar socio economic status and background carrying out farming activities and who agree to function as a joint liability group. The members should trust each other well enough to take-up joint liability for group / individual loans.
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The members should be engaged in agricultural activity for a continuous period of not less than one year.
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The members should not be a defaulter to any other formal financial institution.
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JLG should not be formed with members of the same family and not more than one person from the same family should not be included in the JLG.
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Very active member of the group should be the leader of JLG and care should be taken to ensure that benami loans are not cornered by the group leader.
Purpose:
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To augment flow of credit to tenant farmers cultivating land either as oral lessees or share croppers and small farmers who do not have proper title of their land holding through formation and financing of JLGs.
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To extend collateral free loans to target clients through JLG mechanism.
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To build mutual trust and confidence between Banks and tenant farmers.
Amount of loan:
Maximum amount of loan is restricted to Rs 50,000 per individual.
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14. AGRICULTURAL GODOWNS/ COLD STORAGE
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Objectives :
For construction of new Agri godowns or cold storages, market yards, silos/ expansion of existing units/ modernisation of existing units, irrespective of their location and takeover of standard accounts of such units from other banks.
Eligibility:
Agri produce Marketing Committees, Marketing Boards/Committees & Agro-industries Corporations etc.
Loan facility:
Medium term loan and short term loan for working expenses, based on the project.
15. FINANCING AGRI CLINIC AND AGRI BUSINESS CENTRES
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Eligibility:
Graduates in Agriculture and Allied subjects like horticulture, animal husbandry, forestry, dairy, veterinary, poultry farming, pisciculture and other allied activities, etc.
Objective:
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To supplement the existing extension network of Government system in accelerating the process of technology transfer to Agriculture.
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To make available supplementary sources of input supply and services to needy farmers.
Amount of Loan:
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The project can be taken up wither individually or on Joint/Group basis.
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The ceiling for the project cost by individual be Rs.10 lakhs and for the group at Rs.50 lakhs (@ Rs.10 lakhs per member of the group)
Subsidy:
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25-33.33 % of the capital cost of the project funded through bank loan
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Interest subsidy for a period of first two years of the Bank loan sanctioned as per the net balance outstanding balance in the account.
16. LAND PURCHASE SCHEME
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Eligibility :
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Small Farmers, Share croppers/Tenant farmers
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Land to be purchased not to exceed 5 acres of un-irrigated land or 2.5 acres of irrigated land, including the land already owned by the borrower.
Objective:
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To finance the share croppers/tenant farmers to purchase land to enable them to increase their income.
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To step up agri. production and productivity by making small and marginal holdings economically viable.
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To bring follow lands and waste lands under cultivation.
Loan Amount:
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Maximum of Rs.5.00 lakhs inclusive of cost of developmental activities proposed.
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Land cost including value of stamp, registration expenses etc. not to exceed 50% of the project cost or Rs.2.50 lakhs whichever is higher.
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Balance or 50% or Rs.2.50 lakhs to be deployed for developmental activities.
17. SHG BANK LINKAGE PROGRAMME - DIRECT LINKAGE TO SHGS
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Objectives:
To provide thrift, credit and other financial services to the poor in all areas enabling them to raise their income levels and standard of living.
Desired Characteristics of the group :
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10-20 members (Maximum not to exceed 20, as it requires egistration)
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Active existence for 6 months ( which is the lead period for tabilization)
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Group meetings have to be regular with 100% attendance of members
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Savings by all members
On lending among members with the thrift contributed by the members
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Active participation by all
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Adoption of economic activity
Loan Amount:
- Upto 10 times of the group savings including interest on savings.
- OD limit to well run SHGs
Margin:
30% of wholesale market price of the produce.
18. SHG (VIDHYA SHOBHA)
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Eligibility:
SHGs with a good track record / repayment, which is in existence for more than 2 years
SHG members who are desirous of availing the loan may join the scheme and start saving through a RD or SB in the name of the group for a period of six months. This saving is apart from the regular SHG savings. If the saving is in the form of RD, it can be extended if the group so desires for availing the education loans subsequently also.
Maximum Loan:
The loan is made available to the group in multiples of accumulated savings subject to maximum of six times at any time of the year depending upon educational requirements of the wards of the SHG members. This loan is apart from the regular SHG loan.
The branch need not insist the SHGs to block the thrift so saved either in their SB / Term Deposit, since the loans are entertained only in case of well stabilised groups.
Multiple Loans:
There need not be any restrictions on the number of Vidhya Shobha loans per group. It may only be ensured that at the time of availing a fresh Vidhya Shobha loan, all the other loan accounts of the SHG are regular.
19. GRIHALAKSHMI
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Objective:
To finance SHG members individually for housing in rural semi urban/urban/metropolitan areas.
Eligibility:
SHGs in active existence/good track record for a minimum period of 1 year and above which are preferably carrying out economic activity either individually or jointly so as to have repaying capacity.
All members of the identified SHG in the age group between 18-60 years.
Applicant should possess title deed/patta pass book/legally valid document/allotment letter issued by appropriate revenue authority and supported by other documents like tax paid receipt either in the name of the SHG member or in the name of his/her family members conveying clear title.
Loan should be recommended by the SHG/NGO, though loan will be in the names of individuals.
Purpose:
Construction/purchase of a house including sheds/godowns/to carry out related economic activities (eg. Cattle shed, provision store, Vegetable shop etc.)
All kind of improvements/ repairs/ maintenance/ value addition/ extension of existing house/ shed such as
20. GRAMIN MAHILA SOWBHAGYA SCHEME
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Objectives:
To finance the rural women in purchase of consumer goods like mixie, gas stove, T.V., refrigerator, steel & wooden furniture 50CC and less motorized Two Wheelers etc .
Eligibility:
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Married rural, semi-urban & urban women engaged in agriculture or activities allied to agriculture.
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Aged between 18 -55 years.
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Preference given to IBKC holders/SHG members.
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Minimum family income should be Rs.2500 p.m. which should be to the satisfaction of BM.
Margin:
5% of the project cost.
SHG Bank Linkage Programme - Direct Linkage to SHGs
Objective
To provide thrift, credit and other financial services to the poor in all areas enabling them to raise their income levels and standard of living.
Eligibility: Member of SHGs.
Amout of Loan
* Upto 10 times of the group savings including interest on savings.
* OD limit to well run SHGs
21. JANASHREE BIMA YOJANA (Launched in association with LIC)
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Objectives:
To provide Group Insurance for the members of SHGs, JLG, RMG, Farmers Club, Men groups, youth club etc.
Eligibility:
Members of SHGs, Joint Liability Group (JLG), Rythu Mithra Group, Artisans, Farmers Club, Men groups, youth club etc financed by Indian Bank, between ages 18 years and 59 years and below the poverty line.
Benefits:
22. UNIVERSAL HEALTH CARE (Launched in Association with UIIC Ltd)
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Objectives:
To provide Medical insurance for the BPL families, since the regular Mediclaim policy is beyond the reach of most of them.
Eligibility:
Members of SHGs, Joint Liability Group (JLG), Rythu Mithra Group, Artisans, Farmers Below Poverty Line (BPL) families, who have opened “No Frills” account under Financial Inclusion in both rural and urban areas.
Age: Between 5 and 65 years. 3 months kid up to 5 years children (Provided one or both parents are covered)
Benefits:
On the Death of the earning Head of the family, Nominee will be paid to a maximum of Rs. 25000/-.
In the event of illness/ accident the following amount will become payable.
PRIORITY CREDIT DEPT (AGRI)
Source: www.indian-bank.com
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