DRIP IRRIGATION FACILITY
Drip Irrigation Facility for sugar cane cultivation
|Purpose||For installation of Drip Irrigation facility to sugar cane cultivating customers|
|Eligibility||Agriculturist who is having irrigated land& regular water source|
|Quantum Loan||75% project cost ORRs 35000 per acre OR as per NABARD unit cost, whichever is lower|
|Margin||25% project cost|
|Rate of Interest||Upto Rs 2.00 lakh – 12 % pa,
above Rs 2.00 lakh- 12.50% pa
|Repayment Period||7 yearly installments|
|Security||a) Hypothecation of the drip irrigation unit.
b) Charge Creation OR mortgage of agricultural land as per existing guidelines.
|Co-oblignat/ Surety||Solvent third party / ies with sufficient net worth acceptable to the Bank|