Scheme for Financing Setting up of Agri Clinics

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Margin

Agri Clinics and Agri-Business Centers (ACABC)
For loans upto Rs.5 lakh: No margin
For loans beyond Rs. 5 lakh: 15 % to 25 %

Special conditions:

in respect of SCs/STs, women and beneficiaries of North-eastern states, Hill areas. In such cases, a maximum of 50% of the margin money prescribed by the banks could be given by NABARD to meet the shortfall in borrower’s contribution, if the bank is satisfied that the borrower is unable to meet the margin money requirements. Such assistance to banks by NABARD will be without any interest. The branches to levy a service charge of 2% per annum from the borrowers.

Rate of Interest

As applicable to Priority Agricultural loans.

Security

Margin	Security to be stipulated
For loan upto Rs.5,00,000/-	Hypothecation of assets created out of our finance. Compulsory coverage for credit Guarantee under CGFMU.
For loan above Rs.5,00,000/- and upto Rs10,00,000/-	Hypothecation of assets created out of our finance. Mortgage of landed property if the same is available as a part of prime security. If the developments are undertaken on the leased land and where legislation permits mortgage of lease hold rights, mortgage of leased hold right may be insisted. Compulsory coverage for credit Guarantee under CGFMU.
For loans above Rs.10,00,000/-	Hypothecation of assets created out of loan +Mortgage of landed property equivalent to loan amount + Co- obligation/ Guarantor (In deserving cases co-obligation/ guarantor may be waived by the sanctioning authority)

Repayment

Loans are to be repaid in 5-10 years in monthly / quarterly / half yearly instalments depending on activity and generation of income.
The repayment period may include a grace period of maximum of 2 years based on income generation.

Subsidy

Eligibility for Subsidy: for availing of the benefit of subsidy under the Scheme.
One should undergo Training programme conducted by – MANAGE National Institute of Agricultural Extension Management (MANAGE) will be responsible for providing training to eligible candidates, through Nodal training institutes and motivating them for setting up of Agri Clinics and Agri Business Centres.