Depending upon activities of FPOs the applications may be considered under the scheme which are related to agriculture and allied activities under PM Matsya Sampada Yojana.
Registered Farmer Producer Companies fulfilling eligibility criteria as defined in Section-IXA of the Indian Companies Act, 1956 (including any amendments thereto or re-enactment thereof) and incorporated with the Registrar of Companies (RoC).
Quantum of finance
1)SFAC Scheme for FPC - Maximum upto Rs.1.00 crores.
2)SFAC/NABARD/ NCDC Scheme for FPO– Maximum upto Rs.2.00 crores.
The facilities shall be secured by way of first charge on the assets created out of Bank finance.
As per Bank’s extant guidelines.
The eligible activities with credit limits up to Rs.2 crores will be covered under CGTMSE.
For loans up to Rs.160000/- : NIL
For loans above Rs.160000/- Minimum 10% by way of promoter contribution. Govt. subsidy will be over and above promoter’s margin.
For Non Mechanised Boats:- 4 to 7 years
For Mechanised Boats:- 8-12 years
Pond Fish culture:-5-8 years
Brakish water Fish/ Prawn culture:-5 to 10 years
Rate of interest
Interest Rates as decided by the Bank from time to time.