Banking & Credit :: IDBI BANK
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5. Farm Mechanization
Pupose: The product aims to give credit for purchase of Farm machinery/Irrigation equipments for agricultural operations. The scheme covers activities ranging from purchase of tractors and accessories, power tillers, combine harvesters, power sprayers, dusters, threshers etc.
Eligibility:
For pump set/ Irrigation equipments Farmer should own a minimum of 2 acres of irrigable land.
For Farm machinery, following is the Minimum irrigated land
For power tillers – 2 acres
For tractors with power upto 35 HP – 4 acres
For tractors with power above 35 HP – 6 acres
For combine harvesters – 8 acres
Loan Amount: Minimum Rs.30, 000 /- and maximum Rs. 30 lakh
6. Financing Wells
Purpose: Dug well is one of the major sources for irrigation in India.
Bank provides loan for various purposes, which include:-
Sinking of new wells
Deepening / renovation of existing well
Bore well / tube well
All categories of farmers including small, marginal and other farmers are eligible for finance. Unit cost recommended by NABARD will form the basis, for deciding loan amount
7. Financing Minor Irrigation Schemes
Bank provides financial assistance for exploitation of ground water (sinking of well), water lifting devices and distribution arrangement also. The target group is all types of farmers (small / marginal / other farmer) either individually or alongwith co-owner of the land.
8. Lift Irrigation Schemes
A group of farmers, lift irrigation societies, SHG, companies etc., can avail loan from bank under this product. Minimum 5 persons can form a lift irrigation society and approach bank for financial assistance.
9. Loan For Purchase of Land
Govt. is encouraging consolidation of land. As part of this, term loan is available to the tune of Rs. 50000/- to Rs. 10 lakhs to individual Small Farmers / Marginal Farmers / Share cropper / Tenant farmers for purchase of land. Loans given to individual farmer to make the small and marginal holding economically viable and to bring fallow and waste land under cultivation and to step up agricultural production and productivity. Loan will be in the form long term in nature with maximum period of 9 years including 2 years moratorium.
Source: http://www.idbi.com |
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