9. Gold Loan
Purpose: To meet the credit needs of farmers for their farm/ off-farm needs
Eligibility: Individual local resident farmers, preferably account holders of the Branch
Quantum of finance: Accordingly to the value of jewellery to be pledged/ card rate - Max. Rs.15.00 lakh
Security: Pledge of gold ornaments/ gold coins belonging to the farmer intending to be pledged with the Branch
Margin: 40% of value worked out on the basis of card limit as on date of finance
Rate of interest:
Interest Rate as decided by the Bank from time to time. (ROI applicable to Agriculture)
Repayment: Max. 18 months
Documents:
Latest copies of land records
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10. Minor Irrigation
Objective:
The objective of the Minor Irrigation schemes should be to meet genuine credit needs of the farmers for development of farm irrigation facilities to improve cropping intensity, better yields and incremental income from the farm.
Purpose :
The following activities can be considered for financing under Minor Irrigation,
- Lift Irrigation
- Well Irrigation
- Electric Motor & Pump set
- Diesel Engine
- Construction of pump house/ water delivery channel
- Payment of deposit to the State Electricity Board also be considered
- Any other type of need based facility/construction suitable to the topography of the agricultural field
Eligibility:
- Individual Farmers
- Group of farmers/ Co-Operative Society of the farmers
- State Irrigation Corporations/ Bodies offering the guarantee of State Government
- Individual farmers /Group farmers, Co-operative societies should have owned land or registered leased land and should be willing to adopt advanced farming techniques and improved cropping patterns.
- In case of lift irrigation schemes, permission from the competent authority like the irrigation/PWDepartment of the state Govt. to lift water from the river/lake at least during the currency of the loan should be obtained
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