ZTBL Punjab Agri E-Credit scheme 2016-17
GOVT. OF PUNJAB MARK-UP FREE AGRI. E-CREDIT SCHEME FOR SMALL FARMERS DETAILS:
In order to support Punjab Government efforts to increase agri. produce as well as to alleviate rural poverty among small and poor farming segment of the society, the Bank has decided to launch subject cited scheme across the Punjab Province.
The scheme is unique in terms of provision of subsidy (free of mark-up) by the Govt. of Punjab for provision of quality input loans to the farmers by facilitating them free of cost registration at Suhulat Centres to be maintained by Land Record Management Information System (LRMIS) in collaboration with Punjab Information Technology Board (PITB).
The disbursement of the loan would be made to the farmers through open mobile wallets of Telcos linked with Assan Account.
TERMS & CONDITIONS
Operational Jurisdiction: The scheme has been launched in all districts of Punjab province through network of ZTBL Branches.
The farmers having land ownership ranging from 2.5 acres upto 12.5 acres are eligible to apply. However, Mark-up subsidy would be paid by the GoPb upto 05 acres on timely repayment of loan.
The applicant farmer should be the resident of same rural union council where the land is located.
The borrower must have valid copy of CNIC.
ORR rating upto 4
Tenure The scheme will be available for Rabi & Kharif crops for 05 years from 2016-17 to 2020-21.
Loan Case File/Booklet.
E-Pass Book/Agri.Pass Book.
Khasra Girdawari, Copy of sanctioned mutation holding valid legal charge on property taken as security in favour of Bank.
Two recent photographs and valid copy of CNIC.
Maximum Loan Limit The maximum loan limit for the scheme is Rs. 325,000/- per borrower/party for input/production loan which would be provided in three (03) installments on seasonal basis. Bifurcation of the same is given below:-
For Rabi crops upto Rs. 25,000/- per acre
For Kharif crops Rs. 40,000/- per acre.
Collateral All types of tangible securities/properties acceptable to the Bank including agriculture land under Pass Book System/digitalized/e-Pass Book.
Insurance As per Federal Government/SBP instructions regarding Crop Loan Insurance Scheme (CLIS), insurance coverage would only be allowed for four major crops namely, Wheat, Cotton, Rice & Maize under the scheme.
Utilization Since the verification of processed loans will be conducted by the GoPb through chartered accountant firms hence utilization of loans should be vigilantly/timely checked by the respective MCOs, Branch Managers, Zonal Chiefs and Internal Auditors of the Bank as per prescribed criteria/ standing instructions of the Bank.
Repayment Schedule The loan to be advanced for Rabi crops (to be disbursed from 1st October to 31th March) would be recoverable on 7th July and for Kharif crops (to be disbursed from 1st April to 30th September) on 7th January.
Rate of Mark Up Mark-up of loans under the scheme will be charged by ZTBL @ 12.50% p.a. Mark-up subsidy by Govt. of Punjab would be provided for 05 years on timely repayment of loan. The loan for first two years would be free of Mark-up whereas for the third, fourth & fifth year the borrowers would bear 4%, 8% & 12 % Mark-up cost respectively.
Monitoring & Evaluation Bank will facilitate the Audit Firm for verification of at least 10% of disbursed loans as appointed by the Department of Agriculture, Govt. of Punjab Lahore.