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Advances to Food Agro Based Units Under Agriculture

  • Benefits
  • Features
  • Eligibility Criteria
  • Document Required
  • Fees & Charges
  • Most Important Terms & Conditions (MITC)

Advances to Food Agro Based Units Under Agriculture : Benefits

  • New, existing Food and Agro based processing units can avail this facility
  • Individual, Proprietorship, Partnership concerns, Private, Public Limited companies and Limited Liability Partnership Concerns.
  • 50% concession towards unified Processing upfront and Documentation Charges
  • Collection Charges on collection of cheques: 100% waiver of the Collection charges on collection of cheques issued in favour of the Borrower by Food Corporation of India, Cotton Corporation of India.
  • Up to Rs. 100 crores with our bank(however, the aggregate sanctioned limit per borrower from the Banking system not to exceed Rs. 100 crores)
  • Margin:
    1. Stocks & Book Debts: 25 %
    2. Plant & Machinery: 25%
    3. Land & Building: 30%
  • ROI: Depending on Hard Security Coverage and Internal Credit Rating

Advances to Food Agro Based Units Under Agriculture : Features

Scheme For Financing Units Engaged In Processing

  • Oil Mill/Solvent Extraction
  • Rice/Dal/Flour Mill
  • Seed Processing/Agro Processing
  • Food Processing
  • Cotton Ginning And Pressing Mills and cotton Seed Oil Extraction (Comprehensive Units)
  • Other activities permissible by the ministry of Food Processing Industries and as per RBI circular/ Guidelines.

Advances to Food Agro Based Units Under Agriculture : Eligibility Criteria

  • All Advances to new/existing (including take over from other banks) Food and Agro based processing units under "Agriculture".
  • Individual, Proprietorship, Partnership concerns, private Limited Companies, Public Limited companies and Limited Liability Partnership Concerns.
  • Other constitution of borrower permissible by the ministry of Food Processing Industries and as per RBI circular/ Guidelines.

Advances to Food Agro Based Units Under Agriculture : Document Required

  • KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
  • Passport Size photo
  • Quotation/Invoice
  • Land documents
  • Project Report
  • IT Return and other document specific to the project

Advances to Food Agro Based Units Under Agriculture : Fees & Charges

  • 50% concession towards unified Processing upfront and Documentation Charges
  • Collection Charges on collection of cheques: 100% waiver of the Collection charges on collection of cheques issued in favour of the Borrower by Food Corporation of India, Cotton Corporation of India.

*However actual out of pocket charges to be recovered.

Advances to Food Agro Based Units Under Agriculture : Most Important Terms & Conditions (MITC)

Nature of facility Term Loan/Demand Loan/Cash Credit/Cash Credit against Warehouse Receipt/ Bank Guarantee/ Letter of Credit/BP/BD/SBLC, Export Credit like pre-shipment and post-shipment etc.
Limit

All the benefits/concessions/relaxations under the scheme are applicable upto sanctioned limit of Rs. 100.00 Crores. (However, the aggregate sanctioned limit per borrower from the Banking system not to exceed Rs.100.00 Crores)
Period For Working Capital: -12- months subject to annual review.
Others: Upto -144- months for Term Loans (including upto 24 months moratorium period), subject to annual review.
Rate of Interest Depending on Hard Security Coverage and Internal Credit Rating

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