Bank of India

Loans : Bank of India

| | | |

|

A- A+

You are here ->Loan & Advance ->compositecash1

Tuesday, 07-Feb-2012

Agriclinics & Agribusiness

Composit Cash Credit

Farm Mechanisation

Financing for Draught Animals & Carts

Land Development

Minor Irrigation

Poultry Development

Purchase of Land

BOI Shatabdi Krishi Vikas Card

Kisan Credit Card

Kisan Samadhan Card

Star Bhumiheen Kisan Card

Online Services

::

::

::

:: know more

::

::

::

::

::

::

::

COMPOSITE CASH CREDIT SCHEME

09. SECURITY:

There will be common documentation though the sub-limits are maintained as separate accounts for the convenience of monitoring.

a) Upto Rs.50,000/= : D. P. Note
Hypothecation of standing crops

b) Above Rs.50,000/= : D. P. Note
Hypothecation of standing crops
Mortgage of land / Collateral security

Note:

i) In case the value of land mortgaged is adequate, no other security should be obtained.

ii) For finance against Government warehouse receipts, mortgage may be waived.

iii) Waiver of mortgage of land in deserving cases may be considered as per security norms.

iv) The RBI norms on security should be strictly adhered to.

Common Documents:

a) Demand Promissory Note.

b) Deed of Composite Hypothecation Agreement (CHA-1).

c) Letter of Authority (AG-15).

d) Charge on land as per Agricultural Credit Act or Equitable mortgage or Legal Mortgage of land (CHA-4).

e) Letter of Pledge (OD-159).

f) Pledge of Storage Receipt duly discharged.

g) Undertaking to repay the advance within 12 months or on sale of produce.

h) Bank’s lien to be notified to the storage unit.

i) Undertaking from the godown / cold storage owners not to deliver the goods without production of the pledged storage receipt.

j) L-515.

k) L-516 (if required).

Note:

i) Documents mentioned under (e) to (i) above are applicable only if sub-limit against storage receipt is sanctioned.

ii) In case produce marketing limit is extended against the produce stored in the premises of the farmer, then hypothecation deed (CHA-1) should suffice to cover hypothecation charge on the produce stored.

10. DISBURSEMENT:

a) Upto Rs.25,000/= may be disbursed in cash to the borrower.

b) Above Rs.25,000/= may be disbursed through input supplier/s or against bills / receipts or may be waived at the discretion of the manager / sanctioning authority.

c) Short term working capital requirements may be disbursed in cash.

d) Portion of finance against storage receipts / produce marketing including domestic needs may be disbursed in cash directly to the farmer.

11. SUPERVISION / FOLLOW-UP:

a) Proper care has to be exercised at the time of selection of the borrower. Pre-sanction inspections should be carried out in all cases. A minimum of one post-sanction inspection of seasonal crops and two in case of multi-season / annual crops should be carried out.

b) In case of finance against storage receipts / produce marketing, periodical inspections should be carried out to ascertain the condition of the stored produce and to see whether the unit is functioning smoothly.

c) Inspection at the time of harvesting / marketing of the crop would ensure timely repayment of the credit.

12. REPAYMENT:

a) Seasonal sub-limits should be adjusted after harvesting / marketing of crops.

b) While disbursing finance against storage receipts / produce marketing, seasonal sub-limits should be adjusted and only balance amount may be disbursed.

13. CROP INSURANCE:

a) Crops financed should be insured as required by law or as covered under various schemes.

b) Crop Loan portion of the finance should be covered under the Rashtriya Krishi Bam Yojana (RKBY) of the Agriculture Insurance Company of India Ltd. (AIC).

c) Insurance premium should be debited to the relative loan account and claims if any be credited to the beneficiary’s account promptly.

Back

Announcement

Analyst Meet Presentation for 31.12.2011

Reviewed Financial Results for the period ended 31.12.2011

Notice of Board Meeting

Analyst Meet Presentation for 31.12.2011 Reviewed Financial Results for the period ended 31.12.2011 Notice of Book Closure for Bonds

Chairman & Managing Director's Message & Address

Bank of India has decided to abolish prepayment charges on home loans for both fixed and floating rate loans across all tenures for existing as well as new borrowers

Watch recorded webcast of Analyst Meet-30.09.2011

Watch recorded webcast of Press Meet-30.09.2011

Financial Results for the quarter / half year ended 30th September 2011

Analyst Meet Presentation-30.09.2011

Festiva l offer – Rate of interest reduced on Home Loans & Auto Loans.

Watch webcast of 106th foundation day

Bank has decided to increase the Bank’s Base Rate from 10.00% p.a. to 10.75%p.a. and BPLR from 14.25% p.a. to 15.00% p.a. with effect from 28.07.2011.

The Managing Committee of the Indian Banks’ Association has appointed Shri Alok K Misra , Chairman and Managing Director, BANK OF INDIA as Deputy Chairman of the Association

Pension Calculator is available on Knowledge Portal front page

Press release launching of Mobile Based Remittance, Urban Financial Inclusion and two factor Authentication

Notice for Debit and ATM cardholders

:: Foreign Branches

Branch / ATM Locator

	Branch Locator
	ATM
	Foreign Branches

Sitemap | Disclaimer

© 2010 Bank of India. All rights reserved

For optimum view of this site you must have IE 5.0 and above

It is recommended to use Internet Explorer 8 for Safe & Secure Browsing. You may download Internet Explorer 8 by clicking on “Logo”
For Safety tips and guidelines on secure browsing through IE 8, please visit : http://www.microsoft.com/windows/internet-explorer/features/safer.aspx