abhishreshthaa
Abhijeet S
A) Refinance Assistance for financing farm mechanization
i) Tractors:
(a) The quantum of refinance in respect of financing for acquisition of second tractor has been enhanced from existing level of 40% to 90% ( 95% in case of SCARDBs) of the loan amount as in the case of first tractor.
(b) Though the minimum land holding required for financing tractors is 8 acre perennially irrigated land, necessary discretion has been given to banks to evolve their own area specific norms, if need be, and report such norms evolved by them to the concerned RO of NABARD.
(c) Refinance facility for financing purchase of second hand tractors has been extended to Gujarat in addition to Punjab, Haryana and Rajasthan.
ii) Power Tillers:
(a) Though the minimum land holding required for financing power tillers is 6 acres of perennially irrigated land, necessary discretion has been given to banks to evolve their own area specific norms, if need be, and report such norms evolved by them to the concerned RO of NABARD.
(b) Banks have also been advised to give focused attention on financing power tillers by preparing a three year banking plan for a compact area for the benefit of the small farmers.
i) Tractors:
(a) The quantum of refinance in respect of financing for acquisition of second tractor has been enhanced from existing level of 40% to 90% ( 95% in case of SCARDBs) of the loan amount as in the case of first tractor.
(b) Though the minimum land holding required for financing tractors is 8 acre perennially irrigated land, necessary discretion has been given to banks to evolve their own area specific norms, if need be, and report such norms evolved by them to the concerned RO of NABARD.
(c) Refinance facility for financing purchase of second hand tractors has been extended to Gujarat in addition to Punjab, Haryana and Rajasthan.
ii) Power Tillers:
(a) Though the minimum land holding required for financing power tillers is 6 acres of perennially irrigated land, necessary discretion has been given to banks to evolve their own area specific norms, if need be, and report such norms evolved by them to the concerned RO of NABARD.
(b) Banks have also been advised to give focused attention on financing power tillers by preparing a three year banking plan for a compact area for the benefit of the small farmers.