Recently, the Bank signed a Memorandum of
Understanding with Livestock & Dairy Development
Department, Government of Punjab in presence of the
Chief Minister, Punjab. The scheme aims at extending
loans to farmers for the development of Livestock and
Dairy Development Projects in the Punjab. Under this
arrangement, District Officer (Livestock) would act as
Focal Person who would not only provide feasibilities
free of cost but would also provide animal health
coverage before and after the implementation of the
project. Both members of cooperative societies and
individuals can borrow funds from this scheme for
specified projects.
The
salient features of this product are: -
Cooperative
Societies
Net
amount of finance, Rs.5 lacs per borrower – 8
members can avail loan.
Margin money 10%.
Period of finance 5 years, recoverable in 10 equal
half yearly installments including mark-up accrued
thereon.
Rate of mark-up 13%.
Case processing fee Rs.1,000/-.
Security of loan at least double the value of net
finance in shape of agriculture land not less than 5
acre per borrower through Agriculture Pass Book
system or urban property through registered
mortgage.
Individuals
Maximum amount Rs.5 lacs in case of group of persons
Rs.10.00 lacs.
Margin
money 20%.
Period of finance 5 years, recoverable in 10 equal
half yearly installments including mark-up accrued
thereon.
Rate of mark-up 13%.
Case processing fee Rs.1,000/-.
Minim
agriculture land requirement 5 acre per borrower
valuing double the amount of loan. In case security
not sufficient, borrower can give urban property. In
case of blood relation , accumulate land of 5 acres
of two borrowers is acceptable.
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