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Saturday, 04-Feb-2012

Agriclinics & Agribusiness

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KISAN CREDIT CARD
07. TYPE OF FACILITY: (a) Revolving Cash Credit – Annual Review. The farmer should be allowed for any number of drawals and repayment within the limit. (b) The review may result in continuation of the facility, enhancement of the limit or cancellation of the limit / withdrawal of the facility, depending upon the performance of the borrower. (c) The aggregate of credits into the account during the 12 months period should atleast be equal to the maximum outstanding in the account. (d) No drawal in the account should remain outstanding for more than 12 months in case of normal crops and 18 months in case of sugarcane and banana crops. (e) In case of reschedulement of the period of repayment on account of natural calamities affecting the farmer, the period for reckoning the status of operations as satisfactory or otherwise would get extended together with the extended amount of limit. When the proposed extension is beyond one crop season, the aggregate of debits for which extension is granted should be transferred to a separate term loan account with stipulation for repayment in instalments as per existing guidelines. (f) As a measure of incentive for card holders with good performance, the Branches may at the time of review, enhance the credit limit suitably to take care of increase in cost of inputs / labour, change in cropping pattern, etc. 08 SECURITY: (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. 09. RATE OF INTEREST: (a) On Debit Balance : As advised by Head Office from time to time (b) On Credit Balance : Rate of interest payable will be as per Savings Bank interest rate and follow the Savings Bank Rules except opening a separate account.
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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

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

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