Loan Against Receipt of Warehouse cold

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LOAN AGAINST RECEIPT OF WAREHOUSE/COLD STORAGE(FOR TRADERS/ PROCESSORS/ARTHIYAS)

Objective

Purchase of Raw materials for Food & Agro Processing Industries during harvesting season when commodity prices are low.

Quantum of Loan

Price of the commodity (same variety and comparable grade ) prevailing in the local market/nearest market; or
Price mentioned in the warehouse receipt ; or
Price communicated by regional office;
Whichever is lowest

Permissible finance shall be fixed after deducting stipulated margin on valuation as arrived above

Eligibility

Food and Agro based processing unit using agriculture commodities as raw material, Proprietorship concerns/partnership firms/ corporate/individuals trading in agricultural commodity and Arthiyas in rural and semi urban areas.

Approved warehouses:

Centralware housing corporation(CWC), state warehousing corporation(SWC) and other godowns managed by the Collateral Management Agencies (CMA)

Security

Pledge of warehouse Receipts of approved warehouses.

Margin

COMMODITIES APPROVED	(In %)
Wheat, Rice (Common), Rice (Fine), Paddy (Common), Paddy (Fine), Paddy(Super Fine/Basmati), Soyabean, Cotton Bales-Medium Staple, Cotton bales-Long Staple, Rubber, Sesame seed, Castor seed	25
Masur, Masur dal, Maize, Gram, Chana dal, Cotton Seed, Tur, Tur dal, Urad, Moong, Groundnut Seed (Kernels), Ground nut in shell, Black pepper, Mustard, Sunflower, Jaggery, Guar seed, Guar gum, Cotton seed oilcake, Ground nut oilcake, Mustard oil cake, Soya oilcake, Yellow peas, Bajra, Jowar, Jeera, Jute	30
Turmeric, Lin seed (Alsi), Chillies, Ajwain, Psyllium(Isabgul), Methi Seeds,Tamarind	35
Potato, Coriander	40

Documents

DPN, Pledge agreement, declaration by borrowers and letter of continuity once obtained valid for 3 years. Warehouse receipt endorsed in favour of Bank

Repayment

Each drawl has to be repaid within 10 months. Although it is advisable to get the drawls adjusted before arrival of new crop

Rate of Interest & Processing Charges:

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