6. Loans fro Maintenance of Tractors Under Tie-up with Sugar Mills

Eligibility:

• Tractor should be less than 15 years old.
  
  
• The borrower should be a registered cane grower with sponsoring sugar mill.

Purpose: To meet the cost of repairing and maintenance of tractors by farmers registered with sugar mill.

Amount of loan:

• A Maximum of Rs.50000/- can be considered for repairs of tractors.
  
  
• For replacement of engine, it should be as per the cost of engine of standard make of the tractor.
  
  
• The enhanced limit be in conformity with the price of standard make and verified with reference to invoice.

7. Agricultural Jewel Loan Scheme

Eligibility:

• All Farmers.
  
• SB account is not required for Jewel loan upto Rs 50,000- for first time availment of jewel loan. Only proper introduction acceptable to BM is required.

Purpose: To meet the short-term credit requirements for purchase of inputs like fertilizers, pesticides, seeds and other genuine expenses for carrying out the seasonal agricultural operations.

Amount of loan:

• Quantum of loan amount should be determined based on the scale of finance fixed for individual crops subject to the maximum advance value based on the Net Weight of jewel ornament fixed from time to time, which is now pegged at  Rs 600 per gram or 70% of market value of the jewels to be pledged whichever is lower.
  
• There is no per borrower ceiling on jewel loan. However the limit is to be arrived based on the land holdings.
  
• Jewel loan is available on all working days.
  

8. Secured Over Draft Against the Pledge of Gold Ornaments ( SODGO )

Eligibility: Farmers who need loan of Rs.25000/- and above against the pledge of gold ornament alone are entitled for SOD. Advance value based on the value of jewels as per existing guidelines.

Objective:

• For Agriculture Sector
  
• Short Term Production needs/Working capital needs for applied activities, consumption needs of farmers.

Loan Amount: Presently Rs.600 per gram (or) 70% of the market value of the jewels to be pledged, whichever is lesser.

Source: www.indian-bank.com