Islah-E-Arazi
Scheme
Purpose:
Provision of financial facility to the farmers for development of their non productive
lands into productive ones by conductive on farm works of Land leveling, laser leveling,
and land improvement, clearance of jungle and land reclamation.
Eligibility:
Resident Self Cultivator
having
Agriculture Land
minimum 5 acres and maximum 50 acres.
Amount: Maximum Rs.500,000/-.
Equity:
Borrower will pay 20% cost of the project.
Security:
1.
Charge on
Agriculture
Land
through
Agri. Pass
Book.
2.
One personal guarantee of reputable person. Two written satisfactory
market checking
reports.
Margin on Collateral Security:
-
50% Margin on Agri land
assessed by Surveyor.
-
25% Agri land as per value
in revenue record.
-
The maximum amount of
Finance will be allowed upto 75% of the Oast Bai Value of land (Oast Bai is verified
by Revenue Officer)
Insurance:
Life assurance of lessee under the Bank’s charge.
Mark-up:
15% per annum.
Repayment:
8-10 equal half yearly installments (within four to five years).
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