To meet the genuine credit needs of farmers for purchasing draught animals and/or carts so tht they can carry out their farm operations in time as also increase their income from hire charges of the animals/cart when they are not in use on their farms.
For purchasing draught farm animals like bullocks, he-buffaloes, camels, horses mules etc and For purchasing animal drawn carts
The following factors should be considered while evaluating technical feasibility
The cost of the animals and cart proposed to be purchased should be reasonable and as per unit cost fixed by NABARD. Financial Availability should be assessed considering income from own farm and hire charges of animals and cart. The incremental income should be enough to repay the loan within 4 to 5 years.
For small and marginal farmers, agricultural labourers; Full amount of the unit cost and margin should not be insisted upon For others 75 to 85 % of unit cost can be financed.
Term Loan – Annual Review
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