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

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).

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

( Last modified on Jun 02, 2023 at 05:06:00 PM )

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