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28. Minor Irrigation Schemes
Purpose
Loan covers various activities like digging of new wells (open / bore wells), deepening of existing wells, energisation of wells (oil engine/electrical pump set) laying of pipelines, installing drip / sprinkler system and lift irrigation system.
Eligibility
All farmers having a known source of water available for irrigation purpose are eligible for the loan.
Loan amount
For loans upto Rs 50000/ 100 % of the project cost
For loans above Rs 50000/ upto 85 % of the project cost will be provided as loan cost
Documents need to be provided
(1) Land records
(2) Quotation for the assets to be purchased
(3) An estimate for the civil works to be undertaken
(4) Geologist certificate wherever applicable
(5) Feasibility certificate from the EB Dept
Security
A) Where movable assets are not created
(a) Upto Rs 10000/ Personal guarantee
(b) above Rs 10000/ Personal guarantee and Mortgage of land
B) Where movable assets are created
(a) Upto Rs 50000/ Hypothecation of assets created
(b) Above Rs 50000 Hypothecation of assets and mortgage of land
Repayment
Repayment will be in Quarterly / half yearly / yearly installments’ over a period of 5 to 7 years depending on the crops or the liquidity created by the agriculture activity undertaken.
| Source: http://www.statebankofindia.com/portal/agri |
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