Agriculture Sector Schemes

1.OBJECTIVE:
The scheme has been introduced for farmers with excellent track record for providing them hassle free term loan facility with an inbuilt element for providing loan for meeting consumption needs also.

3.PURPOSE OF LOAN:
Within the overall credit limit sanctioned, the farmer is free to choose his own purpose like purchase of agricultural implements, land development, purchase of bullocks and carts. repair of farm machinery or any other needs including domestic needs like expenditure on account of sickness, children’s education and family functions. As far as the bank is concerned, it will be a general purpose loan including his consumption needs.

4. QUANTUM OF LOAN :
Loan amount will be fixed on the basis of five times the annual farm income or 50% of the value of land mortgaged as collateral security, whichever is less subject to a maximum of Rs.5.00 lacs. The facility is in addition to the Kisan Credit Card, which is a form of running cash credit facility.

5. MARGIN :
The farmer should, advise the Branch Manger of the purpose of drawals and the approximate cost thereof less a minimum margin of 20% in the case of on farm requirements and 30% in case of consumption loan. Withdrawals for consumption purpose should not, however, exceed 50% of the limit sanctioned.

6. VALIDITY PERIOD :
The card limit sanctioned will be valid for a period of one year and can be renewed year after year. Default in repayment of any of the instalment/outstandings will render the card holder ineligible for any further withdrawals from the Card account.

8. REPAYMENT PROGRAMME :
Each loan account under the scheme will have its own repayment programme depending on the convenience of the farmer, subject to the usual norm of a maximum of 1 to 7 years for the repayment of Agricultural Term Loan.
FOR FURTHER DETAILS PLEASE CONTACT OUR NEAREST BRANCH

INDORE BANK KISAN CREDIT CARD SCHEME

1. OBJECTIVE :
Kisan Credit Card Scheme aims at adequate and timely support from the banking system to the farmers for their cultivation needs including purchase of inputs in a flexible and cost effective manner.

2. ELIGIBILITY :
All existing as well as new farmers are eligible.

3. ISSUE OF CARDS :
The beneficiaries under the Scheme will be issued a credit card cum passbook having following details :-
a) Name b) Address c) Particulars of land holding
d) Borrowing limit e) Validity period f) Photograph
To give the benefit of modern technology now ATM Kisan Credit Cards are also issued.
4. FIXATION OF CREDIT LIMIT :

1	The credit extended under the KCC Scheme will be a revolving cash credit and any number of drawls and repayments within the limit will be permitted.
2	Contingent needs such as for medical, education, religious functions etc. upto 20% have been included in KCC.
3	The basis of fixation of credit limit is cropping pattern and scale of finance as recommended by the District Level Technical Committee (DLTC ). For the fixation of credit card limit operational land holding will Include leased in land and exclude leased-out land. For the year 2004-05 loan in excess of 20% of scale of finance may be sanctioned.
4	Within the overall yearly limits sub limits for different seasonal requirement such as Rabi, Kharif, long duration crop are fixed.

5.VALIDITY/RENEWAL :
The credit card will be valid for 3 years subject to yearly review.

6.CROP INSURANCE :
Notified crops are covered for insurance as per Rashtriya Krishi Bima Yojna (RKBY).

7. PERSONAL ACCIDENT INSURANCE :
The Personal Accident Insurance Scheme (PAIS) has been implemented by the bank. The policy covers the KCC holders upto the age of 70 years. The premium for one year is RS.15/- while the same for 3 years policy will be Rs.45/-. The premium payable to the insurance company under the scheme is shared between the KCC Issuing bank and the KCC holder in the ratio of 2:1. The bank branches are obtaining policy for three years.
a) Risk Coverage :
The benefits are as under :
i) Death due to accident/permanent total disability/lose of two limbs or two eyes or one limb and one eye: Rs.50000/-
ii) Loss of one limb or one eye. : Rs.25,000/-

8. CHEQUE BOOK FACILITY :
The literate KCC holder is provided with cheque book facility at his request to operate his account.

9. KCC AGAINST THE SECURITY OF SILVER/GOLD ORNAMENTS :
The farmers can avail the facility against the security of silver/gold ornaments.
In our bank all crop loans are provided by way of KCC scheme.
FOR FURTHER DETAILS PLEASE CONTACT OUR NEAREST BRANCH

1	Farmers having good track record of repayment in their agriculture cash credit/agriculture term loan/Kisan credit card account for the last two years may be issued Kisan Gold Card.
2	Farmers who have closed their accounts without any default in last 3 years but are not our current borrowers may be covered.
3	Farmers who have defaulted in repayments but liquidated their entire dues within the stipulated repayment period may also be covered.
4	Borrowers who maintain sizeable deposit with our branches for the last 3/4 years are also eligible for Kisan Gold Card.
5	Good borrowers of other banks may also be made eligible provided they liquidate their outstandings with other banks.

a	Primary : Hypothecation of crops and assets, if any, created out of bank finance and existing moveable assets such as milch animals, pumpsets etc.
b	Collateral : The loan will be collaterally secured by way of mortgage of land holdings, immovable properties or security of liquid assets like term deposit receipts, LIC policies of adequate surrender value and NSCs. Cash disbursals are allowed to the full extent of the credit limit as in the case of the Kisan Credit Car