OBJECTIVE – To include creation of scientific storage capacity with allied facilities in rural areas to meet the requirements of farmers for storing farm produce, processed farm produce, consumer articles and agricultural inputs; promotion of grading, standardization and quality control of agricultural produce to improve their marketability; prevention of distress sale immediately after harvest, promotion of pledge financing and marketing infrastructure in the country for the introduction of a national system of warehouse receipts in respect of agricultural commodities stored in such god owns.
ELIGIBILITY – The project for construction of rural god owns can be taken up by individuals, farmers, group of farmers or Growers, Partnership or Proprietary firms, Non-Government Organisations, Self Help Groups, Companies, Corporations, Co-operatives, Agro-Processing Cooperative Societies, Agricultural Produce Marketing Committees, Marketing Boards and Agro Processing Corporations in the entire country.
Assistance for renovation or expansion of rural godown will however, be restricted to the god owns constructed by cooperatives only.
RATE OF INTEREST – For loansup to Rs.2 lakh the interest rate is 11.50% p.a.
SECURITY – The security in the shape of mortgage of immovable property/ Pledge of NSCs/KVPs/LICs policies valued at least 200% of loan amount and Hypothecation of unit will be taken as security.
Bank is having Tie-up arrangement with 166 Companies or Corporate providing personal loan, House building loans, vehicle loans & educational loans.