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Scheme for Financing Agri based enterprises- Krishi Udyam Rin

To provide a simple, hassle-free, one-stop credit solution for the working capital and infrastructural needs of the Agri Enterprises. It is a financial assistance scheme designed to help farmers in establishing or expanding agro-based enterprises through simple procedure.

Overview

  • Purpose: - To provide a simple, hassle-free, one-stop credit solution for the working capital and infrastructural needs of the Agri Enterprises. It is a financial assistance scheme designed to help farmers in establishing or expanding agro-based enterprises through simple procedure.

Features

  • Type of facility: Cash Credit (CC), and Term Loan (TL) both facilities available.
  • Quantum of loan: Minimum Rs. 1.00 Lakh Maximum Rs. 10.00 Cr. For FPO Maximum Rs. 5.00 Cr.
  • Margin: Nil up to Rs.2lakh and up to 25%, depending on the project cost and quantum of loan
  • Interest Rate- Attractive Interest rate starting from 10%.

    • Repayment:

  • For Term Loan-Maximum ten years (including moratorium of maximum 24 months).
  • For Cash Credit- within 1 year which is repayable on demand & to be renewed annually.

    • Security:

  • Primary Security: Hypothecation of plant, machinery, stocks, receivables, etc. and other movable assets created out of Bank's finance. Present and Future.
  • Collateral Security:
  • Loans up to Rs.2 Crores with Credit Guarantee Cover will be Collateral free and a Hybrid Model (with partial collateral security & prior permission from HO) 75% Collateral security to be obtained for amount above Rs.2 crores as per product feature.
  • Loans up to 2.00 lakhs without any Credit Guarantee Cover requires no Collateral security and Mortgage of SARFAESI Compliant Property having realizable value not less than 100% is required for Loans above Rs.2.00 lakhs

Eligibility

  • Individual Farmers, Agri-entrepreneurs, Agri-based Enterprises and Farmer Producer Organizations (FPOs).

Insurance

  • Assets, created out of Bank's finance must be comprehensively insured till the loan is repaid in full.

Documents Required

  • Loan Application Form
  • KYC of the borrower/unit
  • Copies of licenses /permissions obtained for running the activity.
  • Copies of tax return for the previous two years.
  • Copies of GST return for the previous two years.
  • Any other document required/ prescribed by the Bank for such project/unit.

FAQs

1. What are the activities covered under Krishi Udyam Rin?

  • Dairy & Animal Husbandry
  • Fish Cultivation
  • Poultry Farming
  • Construction of rural Godowns
  • Agri Machinery
  • Honey Production
  • Polyhouses & Nursery etc.

2. Are there any subsidies or support linked to Krishi Udyam Rin?

  • Yes, projects may be linked with various central or state government schemes such as AIF, PMFME, NABARD supported projects.

3. How can an applicant apply for Krishi Udyam Rin Scheme?

  • Applicants can approach the nearest Uttarakhand Gramin bank branch for availing the benefits of scheme.
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