Scheme for Debt Swapping of borrowers - Agri & Rural

Features

• The scheme will be for farmers owning land existing or prospective. The quantum of loan granted shall be 100% if the debt is on account of cultivation or agri activity, with a maximum of Rs 1,00,000/. Additionally loan for crop production will be sanctioned under Kisan credit card.
• All the existing security available with the bank should be extended to cover the loan under the proposed scheme also.
• Charge over assets and documents pledged / mortgaged with the moneylenders, non-institutional lender etc .after the dues of the money lenders / non-institutional lenders are cleared.
• Collateral security by mortgage / charge on agriculture property shall be taken for this loan.
• The loan is repayable in half yearly / yearly installments in 3 to 5 years.