Scheme for Financing against Warehouse Receipts to farmers
| Scheme for Financing against Warehouse Receipts to farmers |
|---|
| Type of Facility | Short Term Loan (STL) |
| Purpose | Loan against Negotiable Warehouse Receipts/ eNWR of warehouse/cold storage is available to provide liquidity to the farmers & prevent them from resorting to distress sale of their produce at the time of harvest |
| Valuation | Market Price or Value shown in warehouse receipt whichever is lower |
| Margin | 25% of the valuation |
| Rate of Interest | |
| Security | - Loan upto Rs 25.00 lakh:
- Charge on Negotiable Warehouse Receipts/ eNWR being endorsed in favour of bank
- Lien should be noted with concern warehouse
- Loans above Rs 25.00 lakh:
- Charge on Negotiable Warehouse Receipts/ eNWR being endorsed in favour of bank
- Lien should be noted with concern warehouse
- Mortgage of land
- Third party guarantee having sufficient net worth
|
| Repayment | The loan should be liquidated as & when the produce is sold during the interim period not exceeding 12 months |
| Other Terms & Conditions | Negotiable Warehouse Receipts/ eNWR should be duly endorsed in favour of bank |
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