SCHEME FOR FINANCING PRIVATE COLD STORAGE/ PRIVATE WARE HOUSES FOR ONLENDING TO FARMERS
For financing private cold storages/warehouses for on lending to farmers against Agricultural commodities stored in the cold storage/warehouse.
Who are eligible?
All private cold storages/warehouses subject to the following conditions:
Minimum: Rs.25.00 lacs ; Maximum: Rs.1.00 crore
How to avail the loan amount?
The disbursal of the loan amount will be restricted to 60% of the value of produce / Commodities stored and belonging to farmers to whom on lending has been done by the Cold storage/ warehouse. For this purpose, a detailed statement should be submitted by the cold storage/ warehouse enclosing photo copies of the WHRs against which on lending has been done by it. Value of Ware House receipt which is more than 6 months will be excluded for arriving at the eligible loan amount.
The limit is valid for 12 months and needs to be renewed every year. Renewal of the limit is subject to satisfactory conduct of the facility.
How do you repay the loan
The cash credit account should be brought into credit balance by the end of November each year and will continue with the credit balance till the commencement of the next season.
How to apply for this loan
You may contact our nearest branch or even talk to the marketing officers visiting your village.