Aryavart Gramin Bank – Capital Investment Subsidy Scheme for Rural Godowns or Cold Storage

By | May 1, 2011

Aryavart Gramin Bank, a Regional Rural Bank, was constituted on 3rd October 2006 after amalgamation of three Regional Rural Banks (RRBs) namely Avadh Gramin Bank, Barabanki Gramin Bank and Farrukhabad Gramin Bank.

The Aryavart Gramin Bank, henceforth mentioned as the Bank, has 306 branches, six Regional Offices and a Head Office. The bank offers home loan, personal loan, agricultural loan, educational loan etc in order facilitate the customers in rural and semi urban areas.

Purpose                      – Construction of Rural Godowns or cold Storage for procuring and storing Agriculture produce of farmers in rural area.

Eligibility                     – Individual farmer, Group of farmers, proprietor or  partnership firms, NGO’s SHG’s Corporations, companies, cooperative societies, Agro processing cooperative societies, Agricultural production and marketing societies and marketing Boards.

Amount Of Loan         – Project cost as per capacity of rural godown or Cold Storage less Margin.

Margin                         – 25% for general categories 20% for SC or ST beneficiaries

Subsidy                       – 25% to 33.33% of project cost as per capacity of rural godown or     cold Storage less Margin. Maximum Rs.37.50 Lac and Rs.50.00 Lac respectively (back ended)

Rate of Interest         – 12.25% p.a. up to Rs. 10 lakhs, 13.50% p.a. above Rs. 10 lakhs

Repayment                 – In 10 -12 years

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

3 thoughts on “Aryavart Gramin Bank – Capital Investment Subsidy Scheme for Rural Godowns or Cold Storage

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