IND PASHUDHAN Mitra- Animal Husbandry Infrastructure Development Fund (AHIDF)

Target Group:

• Individual Entrepreneurs, Private Companies, MSME, Farmer Producer Organizations (FPOs) and Section 8 Companies (Non-Profit entities), Dairy Cooperatives.
  .

Objective:

• Dairy Processing.
• Value added dairy product manufacturing.
• Meat processing and value addition facilities.
• Animal Feed manufacturing units.

Type of Facility:

• Term Loan

Quantum of finance:

• Based on Project cost
• Loan under AHIDF shall not be provided for acquisition of land in any manner such as purchase, transfer, lease, accession/addition etc.,

Margin Norms:

• Micro and Small units: 10%
• Medium Enterprises: 15%
• Other categories: 25%

Repayment Period:

• Maximum 10 years (Inclusive of holiday period of maximum 2 Years).

Processing Charges:

• Upto Rs.25000/ : Nil
• Above Rs.25000/-: 0.50% of the limit sanctioned + Applicable GST(All other charges: As per circular on service charges related to Agri advances issued from time to time).

Rate of Interest:

• Please refer the Lending Rates link on home page in our Bank’s Website www.indianbank.in.

Security Norms:

• Hypothecation of assets created out of Bank Finance.
• Equitable Mortgage of land & building/ Immovable properties.
• Collateral security in the form of FD, NSC, LIC Policies.
• Equitable Mortgage of immovable properties
• (Minimum Security Coverage Ratio of 1.20 should be maintained at all times.)
• Guarantee: Personal guarantee of partners/directors.
• For accounts within MSME Defined Ceilings: Credit Guarantee cover is available for 25% of the credit facility under this AHIDF scheme.

Subsidy / Interest Subvention:

• Loans under this financing facility are eligible for interest subvention of 3% per annum.
• The Department will pay Interest Subvention amount in advance/ upfront to the lending bank for the first year on request of the scheduled bank.
• Interest subvention from second year onwards would be released based on Non NPA borrowers entitlement claimed by the scheduled bank every year in advance.
• Defaulter of repayment of loan in any given year will not be eligible for Interest Subvention.
• Credit guarantee coverage will be available for eligible borrowers from this financing facility under AHIDF, subject to maximum of 25% of Credit facility only for MSME defined ceilings i.e., MSME defined categories.

*MCLR Rate available in Home page