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Loan Schemes.

 

PLEDGE LOAN AGAINST AGRI COMMODITIES

(Godam Mal Taran Yojna)

1

Scheme Name

Loan is given against pledge of agriculture commodities (oil seeds, black gram, green gram, wheat, Soya been etc.) grown by the farmer members and stored in the PACS godown 

2

Rate of Interest

For society 8 % P.A.

For members 8 % P.A.

3

Period

180 days recover loan with interest 

4

Eligibility

The godown should be owned by PACS

PACS should enter into agreement with the bank to store the commodities on behalf of the members.

Goods to be stored under lock. The key in possession of the branch.

Maintenance of the godown is the responsibility of PACS

Value of the commodities stored determined by the market price prevailing at the time of keeping the goods in the godown.

Loan amount restricted to 75% of the market price of the respective commodities

No minimum and maximum limit

Goods under pledge stored in the godown of PACS

5

Document

Prescribed application form

7/12 extract, 8 A, declaration  with sign & stamp

No dues certificate of concern area branches, Society resolution & branch recommendation