Agricultural Pledge Loan
In harvesting season there is a huge arrival of particular commodity in the market in very short period, which causes substantial fall in market prices of the commodity. Farmers do not have capacity to hold their stock, so they have to sell their produce at a very meager rate in the market. Under the pledge loan scheme the farmer keeps his produce in the APMC godown and gets 75% of the value as loan. As the prices of the commodity rise in the market the farmer sells his produce in the market and repays his loan and thus fetches higher price for his produce reasonable levels.
The scheme of pledge loan is available for Moong, Tur, Udid, Soyabean, Paddy, Sunflower Safflower (Kardai) and Gram (Chana).
Farmer can store his produce in Godowns of APMC and can immediately get 75% cost of his produce (for Jawar, Bajra, Maize and Wheat 50% or Rs.500/- which is less), at an interest rate of 6%. The APMCs maintain this pledged stock free of cost. The farmers can sell their produce when the prices are higher. The pledge loan limits are sanctioned to APMCs as per their demand. The farmer is allowed to avail this facility up to a period of 180 days. After 180 days interest rate will be 8% for next 6 months, after that interest rate will be 12% next 6 months.
Commodity wise loan Limit & Rete of Interest of lone :-
|No||Commodity||Limit of Loan||Period||Rate of Interest|
|1||Soyabean, Tur, Moong, Udid, Paddy, Safflower (Kardai) Sunflower, Turmeric and Gram.||75 % of total cost as per market rate.||180 days||6%|
|2||Jawar, Bajra, Maize & Wheat||50 % of total cost. (Rs. 500/- per Qunt. Or Market Rates which is less)||180 days||6%|
|3||Cashew nuts||75 % of total cost. (Rs. 50/- per Kg Or Market Rates which is less)||180 days||6%|
|4||Regime (Bedana)||50 % of total cost. Or maximum Rs. 50,000/- per Mt. which is less||180 days||6%|