Produce Marketing Loans

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Produce Marketing Loans
Features
Nature of facility : Short term loan by way of Agri Cash Credit (PML).
Features : The loan will be available only to those farmers who availed crop loans from the branch, which should not be overdue.
Objective : To provide liquidity to farmers and to save them from selling their produce in distress.
Produce/Crop Covered : The produce of all crops for which farmers were given crop loans are covered under the scheme.
Credit Limit : Upto `10.00 lacs under the Produce Marketing Loan Scheme for agriculture produce to the extent of 75% of the value of minimum support price.
Rate of Interest : Same rate of interest as applicable to crop loan.
Security Norms : Pledge/Hypothecation of the produce (including ware house receipts)
Repayment : 12 months (max.)
Disbursement : At the time of disbursement, the relative crop loans should be recovered/adjusted out of the produce market loan.
Inspection : Branch should inspect the stocks of produce at monthly intervals
Others :
  1. Credit limits extended under the scheme are treated as Direct Agriculture Advances under Priority Sector.
  2. The borrowers should submit periodical stock statements once in a month.
  3. The borrower should follow the quality/storage requirements laid down by bank.
  4. Stock should be kept separately and additional care is to be taken to maintain its quality.
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