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Credit Facility for Food and Agro Business with Warehouse/Storage Receipts Loans

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

Credit Facility for Food and Agro Business with Warehouse/Storage Receipts Loans : Benefits

Collection Charges: 100% Waiver of collection charges on collection of Cheques issued in favour of the borrower by Food Corporation of India (FCI).
Maximum Loan Amount is Rs 100.00 Cr
Physical Warehouse Receipt issued by State/Central Government are eligible for Loan
E-NWRs (Electronic Negotiable Warehouse Receipts) issued by repositories identified by WDRA (Warehouse Development Regulatory Authority) i.e NERL (National E-repository Limited) & CCRL (CDSL Commodity Repository Limited) are eligible under this scheme.

Credit Facility for Food and Agro Business with Warehouse/Storage Receipts Loans : Features

Type of Warehouse/Storage receipts eligible for finance.

Physical Warehouse Receipt issued by State/Central Government
E-NWRs (Electronic Negotiable Warehouse Receipts) issued by repositories identified by WDRA (Warehouse Development Regulatory Authority) i.e NERL (National E-repository Limited) & CCRL (CDSL Commodity Repository Limited) at present.
Warehouse/Storage Receipt issued by our empanelled Collateral Managers (CMs) under Tie up arrangement with our Bank, only for financing limits on regular and Standalone Basis to Food and Agro Processing units enjoying credit facility with our Bank.
Warehouse Receipts issued by Private Registered Warehouse/Cold storages approved by concerned Zonal Head.

Credit Facility for Food and Agro Business with Warehouse/Storage Receipts Loans : Eligibility Criteria

Loan to Individual farmers including Self Help Groups (SHGs) and Joint Liability Groups (JLGs), proprietorship firm of Farmers, corporate farmers, Food Producers Organisations (FPOs)/Companies of individual farmers, partnership firms and cooperatives of Farmers directly engaged in Agriculture and Allied Activities upto Rs 75 lakh against pledge/hypothecation of agriculture produce (including warehouse receipts) for a period not exceeding 12 months.

Food and Agro Processing units having aggregate sanctioned limit upto limit Rs 100Cr from the entire Banking System.

Credit Facility for Food and Agro Business with Warehouse/Storage Receipts Loans : Document Required

Application form for demand loan against pledge of warehouse receipt
KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
Passport Size photo
Land Records
IT Return

Credit Facility for Food and Agro Business with Warehouse/Storage Receipts Loans : Fees & Charges

Processing Charges

Up to Rs 50 Lakhs	Rs 1000
Above Rs 50 Lakhs up to Rs 10 Crore.	Rs 25/lakh Subject to Maximum of Rs 20000
Above Rs 10 Crore	Rs 20/Lakh Subject to Maximum of Rs 50000

Inspection charges Nil for Aggregate Loan upto Rs 3.00 Lakh

Credit Facility for Food and Agro Business with Warehouse/Storage Receipts Loans : Most Important Terms & Conditions (MITC)

Quantum of Loan

Farmers directly engaged in Agriculture and Allied Activities upto Rs 75 lakh against pledge/hypothecation of agriculture produce (including warehouse receipts) for a period not exceeding 12 months.
Food and Agro Processing units having aggregate sanctioned limit upto limit Rs 100Cr from the entire Banking System.

Margin

Minimum of 30%

Nature Of Facility

Demand Loan in case of Farmer Cash Credit Pledge in case of Food & Agro Processing Units

Rate of interest

MCLR+SP+0.25%

Tenor of Loan

Maximum 12 Months

Processing Charges

Up to Rs 50 Lakhs	Rs 1000
Above Rs 50 Lakhs up to Rs 10 Crore.	Rs 25/lakh Subject to Maximum of Rs 20000
Above Rs 10 Crore	Rs 20/Lakh Subject to Maximum of Rs 50000

Security

Security Pledge of Agricultural Commodity and duly discharged/ Lien marked warehouse receipts.

Note : The Bank may use the services of agents in sales/marketing etc. of its various products