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Objective
The objective for extending agricultural produce marketing loan is to provide certain amount of liquidity to the farmers and prevent them from resorting to distress sale of their produce at the time of harvest.
Nature and purpose of advance
Quantum of loan
Eligibility
Primary Security
Collateral security & Guarantee
As per extant bank guidelines
Margin
Commodity wisestipulated margin as approved by bank.
Repayment
The entire loan amount along with accrued interest should be recovered within 12 months (subject to satisfactory shelf life/market condition) of availing loan. No rollover is permitted. Part payments are also allowed.
Tie up with National Electronic Repository ltd (NERL)
Short term loan (demand loan) against pledge of e-NWR receipt of NERL covering stocks of agricultural commodities stored in ware houses registered withyWDRA . Upto Rs.50 lacs per farmer Entire loan amount along with accrued interest within validity period of e-NWR or within maximum 12 months Other conditions as per extant bank guidelines
Forms & Documents
Appropriate DPN note, Letter of continuity, Pledge agreement, Deed of guarantee , Letter of general lien and setoff , Undertaking from borrower /Guarantor for disclosure to CIBIL, ware house /storage/cold storage receipts standing in the name of borrower duly endorsed in Banks favour, hypothecation agreement, undertaking from the borrower that the produce shall not be disposed of before adjustment of loan , undertaking from ware house, cold storage owners, agreement between ware house, cold storage units, and the Bank, a letter of indemnity from the warehouse/storage owner etc. and any other document stipulated in sanction.
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Conditions apply
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