To create a hassle free single -term loan limit to farmers for all term loan requirements. Like Farm Mechanizatipn. Land Development, Minor irrigation, Water Conservation, Horficulture, Allied activities and other agri related activities etc. However development projects with a long, gestation period (say more 'than 3-4 years) may not be considered in view of the specific tenor of this credit product (egg. demo plantation-requiring gestation of 6-7 years)
Individual, Joint/ Group of Farmers-owner cultivators, JLGs/SHG etc. engaged in Agriculture and related activitiese.
It shall be single transaction Term loan Limit Loan repayable within 9 years. The purposes for which the limit is granted shall not be a part of the Kisan Credit card limit and it shall be a separate Single transaction account.
To be based on the investment plan given by the farmer to be undertaken in the next 2-3 years.
The plan can be a combination of investment/development activities relating to agriculture and allied activities.
It shall be subject to 5 times of Annual income of the farmer including allied activities or 50% of the value of land mortgaged whichever is lower, with a maximum Rs. 20 Lakhs-
The entire margin need not be brought in upfront for the entire limit. The required margin may be brought at the time of creation of asset only.