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Introduction of new scheme “Union Kisan Pushpak”- Scheme for financing Drones for agriculture purposes under Custom hiring activity/own agriculture purpose
Detailed scheme features are mentioned hereunder:
For purchase of new Drones for agriculture usages under Custom hiring activity/own agriculture purpose on PAN India basis
Purpose
For purchase of Drones with equipment/accessories for agriculture usages such as spraying pesticides, fertilisers, anti-locust spraying, mapping of farmlands, etc. under Custom hiring activity/own agriculture purpose.
Implementing branches
All the branches in India
Eligibility
Applicant shall be individual/joint individual farmers/Proprietorship/Partnerships/Companies/Co-operative societies, FPO’s/FPC, etc. involved in custom hiring activity and for own Agriculture purpose. In case of Joint individuals, there should not be more than 2 individuals. Custom hiring centres/Hi tech hubs will also be eligible for interest subventions benefits/CGTMSE coverage under Agriculture Infrastructure Fund (AIF) scheme.
In case of Individuals, applicant should possess remote pilot license from institute specified by the Director General of Civil Aviation (DGCA) or from any authorised remote pilot training organisation and should have passed the class tenth examination or its equivalent from a recognised Board. In case Joint Individuals, at least one individual should possess the above licence and prescribed education qualification.
In case of other constitutions, it is to be ensured that the person employed to use the Drones for agriculture purpose, should possess the above license and prescribed education qualification. A suitable undertaking to be obtained in this regard from the borrower. Branch shall also obtain the copy of license from DGCA and also details such as education qualification, experience, etc. of the concerned person operating the drone.
Applicant shall have good reputation in the market.
Age of the farmer should be in the range of 25 years to 60 years. In case of joint individuals (not more than two), the age criteria to be complied with at least for one individual. For others no specific age criteria to be followed.
Margin
25% of the Unit cost including other accessories and equipment
(Insurance and AMC can be considered as part of Project cost)
Loan Amount
Maximum 75% of unit cost (Including other accessories and equipment) based on quotation subject to maximum of ₹12.00 Lakhs for purchase of upto 2 drones.
Nature of loan
Term loan
Security
Loan limit
Upto max loan amount of ₹20.00 lakhs
Primary security:
Hypothecation of asset created out of Bank finance.
Collateral security:
Eligible borrowers shall be covered under the credit guarantee scheme of CGTMSE in lieu of collateral security. For covering the borrower under CGTMSE, obtention of Udyami Registration certificate is mandatory along with other criteria to be complied with.
In case no CGTMSE coverage is available, mortgage of land or cash/liquid collateral (with accepted value of land should be more than 100% of the loan amount) is mandatory.
Assessment
Based on the projected cash flows submitted by the Borrower from the activity.
Repayment Period
Maximum repayment period of 3 years and interest/instalment is to be serviced monthly including the maximum moratorium period of 3 months. Moratorium period should be allowed judiciously wherever required.
Service Charges
As per extant guidelines on Service charges
Special Instructions
The Drone should be comprehensively insured in the name of the borrower with Bank clause for its full cost, and the relative policy should be kept on record.
Any other guidelines issued by the DGCA or the concerned authority such as Ministry of Agriculture and Farmers Welfare, etc. from time to time governing the Drone operations are to be strictly complied with.
Bank's name should be painted or Sticker to be affixed on the farm equipment purchased.
All the other terms and conditions applicable to agri term loans are to be adhered to.
Standard operating procedure (SOP) for use of “Drone Application with pesticides for crop protection and for spraying Soil & Crop nutrients in Agricultural, forestry, Non-cropped areas, etc”. is enclosed with this note for the benefit and compliance of field functionaries as Annexure-I
A model cost benefit analysis of expected revenues of the basic and advanced drones through hiring process is enclosed as per Annexure-II
Branches/ROs/FGMOs are to be guided by IC 02914-2021 dated 23.11.2021 on “new customised procedure for linking and delinking of back end subsidy” and 02715-2021 dated 27.07.2021 on “Standard Operating Procedure (SOP) for opening of Subsidy accounts and operations in Sundry Subsidy accounts” in cases where the Unit is eligible under subsidy from State/Central Govts, etc.