Chikmagalur Kodagu Grameena Bank – Rainwater Harvesting Scheme for SC/ST Farmers

By | July 4, 2011

The Rainwater harvesting scheme for customers is offered by the bank to cover the SC/ST farmers in Providing Irrigation facilities to the homesteads/ farm lands. In order to augment the income generating capacity of the SC/ST farmers, suitable local harvesting structures are proposed along with provision for small lifting devices on a nationwide scale.

The is also involved in offering home loan, personal loan, vehicle loan, education loan, agricultural loan, business loans etc.

Purpose –           For fresh planting of Variety of Mango Plants     Unit Cost: Rs.34400/- per Acre as per present NABARD Unit Cost

Eligibility –           All individual SC/ST farmers will be eligible.

Unit cost –           Rs.12000/- to Rs.30000/- as per NABARD Unit cost

Subsidy          – 50% of the project cost (NABARD unit cost) or subject to a maximum of Rs.15000/- per borrower. Subsidy will be Back ended will be kept in SRF

Repayment     – Within 7 to 11 years including grace period of 2 years; First annul installment will fall due after 2 years from the date of first disbursement. Linked with the harvesting season   Mango Cultivation

Margin –           5 to 15% of the total financial outlay

Security –           Security shall be permissible under RBI guidelines

Repayment –           Repayment period is 14 years including 7 years grace period

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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.

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