10. SCHEME FOR PURCHASE OF SECOND HAND TRACTOR

Eligibility Criteria: Any farmer / entity having minimum 4 acres of agriculture land with source of Irrigation and non-defaulter of any financial institution.It can be considered by taking into account, the assets utilization for a minimum of 1000 hours of productive work per year on own farm & custom hiring.

Age of Tractor: Should not be older than 6 years.

Amount of Loan: 75,000/-

Security: Hypothecation of tractor along with implements, if applicable. Mortgage of agriculture land to secure dequately the advance or Third party guarantee acceptable to bank.

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1. Working Capital Finance is to be provided to those units, who have either availed term loan from our bank or have not availed any loan facility from any other financial institutions.
2. The term loan account of these cold storage holders should be Standard Regular.
3. Multiple banking arrangement is strictly prohibited under the scheme.

• 70% of the capacity of the storage unit or last 3 years actual average storage and market value or minimum support price of agricultural commodities whichever is less.
• However, under the onlending the loan amount per farmer should not exceed Rs.2.00 lac or 70% of value of produce stored whichever is lower.