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Mahabank Kisan Credit Card (MKCC) to Animal Husbandry Farmers and Fisheries

Mahabank Kisan Credit Card (MKCC) to Animal Husbandry Farmers and Fisheries

Facility

    Working capital (Cash Credit)

Purpose

The KCC facility will be extended to meet the short term credit requirements of rearing of animals, birds, fish, shrimps, other aquatic organisms, capture of fish.

Eligibility

The criteria for eligible beneficiaries under KCC for Animal Husbandry and Fisheries will be as under: 

1) Fishery 
1.1 Inland Fisheries and Aquaculture 
1.1.1 Fishers, Fish Farmers (individual & groups/ partners/ share croppers/ tenant farmers), Self Help Groups, Joint Liability Groups and women groups. 
1.1.2 The beneficiaries must own or lease any of the fisheries related activities such as pond, tank, open water bodies, raceway, hatchery, rearing unit, possess necessary license for fish farming and fishing related activities, and any other State specific fisheries and allied activities. 
1.2    Marine Fisheries 
1.2.1 Beneficiaries listed at 1.1.1 above, who own or lease registered fishing vessel/boat, possess necessary fishing license/permission for fishing in estuary and sea, fish farming / mariculture activities in estuaries and open sea and any other State specific fisheries and allied activities. 
2) Poultry and small ruminant 
2.1 Farmers, poultry farmers either individual or joint borrower, Joint Liability Groups or Self Help Groups including tenant farmer of sheep/goats/pigs/poultry/birds/rabbit and having owned /rented /leased sheds.  
3) Dairy 
 3.1        Farmers and Dairy farmers either individual or joint borrower, Joint Liability Groups or Self Help Groups including tenant farmers having owned /rented/leased sheds. 

Scale of finance

  • The scale of finance will be fixed by the District Level Technical Committee (DLTC) based on local cost worked out on the basis of per acre/per unit/per animal/per bird etc.

Margin

    NA (Considered while deciding scale of finance)

Rate of Interest

  • Upto Rs.2.00 Lakh : Concessional Rate of Interest @ 7.00 % per annum.
  • Above Rs.2.00 Lakh : Slabwise ROI applicable to Agriculture Advances
    Rs. 2.00 Lakh to Rs. 10.00 Lakh: 1 year MCLR +BSS @ 0.50%+2.00%
    Above Rs. 10.00 Lakh: 1 year MCLR +BSS @ 0.50%+3.00%
(Note: Concessional ROI shall be applicable to farmers possessing MKCC for raising crops and involved in activities related to animal husbandry and/or fisheries, the MKCC for animal husbandry/fisheries shall be within the overall limit of Rs. 3 lakh only.)

Security

  • ​​Up to Rs.1.60 lakh :      Hypothecation of stock / Birds/ Animals
  • Above Rs.1.60 lakh:
        a)  Hypothecation of stock/ Birds/Animals
        b)  Mortgage of land / Third Party Guarantee

Repayment

  • As per the cash flow / income generation pattern of the activity undertaken by the borrower.
  • Annual reveiew / renewal

Insurance

   Asset created have to be insured for full value.

Other Terms & Conditions

  • KYC norms to be followed scrupulously.
  • CIBIL report/RBI defaulter list should be obtained and verified.
  • All documents should be submitted in original before disbursement of the loan.
  • Disbursement through Rupay Kisan Card/ Cheque Book/ SB accounts, etc.

Paper requirement

Applicant: -

Loan application i.e. Form No -138,  &  Enclosure – B2

  • All 7/12, 8 A, 6 D extracts of the applicant
  • In case of Co-Applicant is salaried or businessmen, the latest salary slips / ITR / Form 16 / Balance Sheet & P/L statements
  • No dues certificates of the applicant from surrounding financial institutions including PACS
  • Lease & or Fishing license for fishery.
  • Legal search for 30 years from advocate on Bank’s panel where land is to be mortgaged.

 

Guarantor (for loans above Rs.1.60 lakh): -
  • Guarantee form F-138
  • All 7/12, 8 A & PACS dues certificate of the guarantors
  • In case of Guarantor is salaried or businessmen, the latest salary slips / ITR / Form 16 / Balance Sheet & P/L