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Advances to Food Agro Based Units Under Agriculture
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Benefits
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Features
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Eligibility Criteria
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Document Required
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Fees & Charges
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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. 50 crores with our bank(however, the aggregate sanctioned limit per borrower from the Banking system not to exceed Rs. 100 crores)
- Margin:
- Stocks & Book Debts: 25 %
- Plant & Machinery: 25%
- Land & Building: 30%
- ROI: depending on internal credit Rating and Immovable security coverage.
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 Records
- Project Report
- IT Return
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.
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, Export Credit Pre-shipment and post-shipment | ||||
| Limit |
Up to Rs. 50 crores with our bank(however, the aggregate sanctioned limit per borrower from the Banking system not to exceed Rs. 100 crores) Sanctioned Limits above Rs. 50.00 crores and upto Rs. 100.00 crores will be considered with additional interest @1% over and above rate of interest applicable under this scheme |
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| Margin |
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| Period | 12 months for working capital. Upto 84 Months for Term Loan (Including upto 12 months of moratorium period) subject to annual review. | ||||
| Repayment of term loan |
In suitable monthly/quarterly instalment after initial moratorium period. Total loan period not to exceed -84 months including moratorium period. |
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| Rate of Interest |
Advances against warehouse receipts to food and agro units:
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