Maharashtra Bank Scheme for Minor Irrigation

 Minor Irrigation

Type of Facility

Term Loan (TL)

Purpose

 Sinking a well/ repair or deepening of well

 Sinking a tube well

 Installation of an electric/ diesel pump set

 Drip irrigation system

 Sprinkler irrigation system

 Laying irrigation channels/ pipelines

 Farm pond/water tank

 Composite minor irrigation which includes more than one purpose mentioned above

Eligibility

All farmers- Individual / Joint landholders

Amount

 For new dug wells/pipeline/pump sets: As per the NABARD Unit costs/ Estimates

 For equipments/machinery: As per price quotations.

Margin

 Limit up to Rs 1.00 Lakh- NIL

 Limit above Rs 1.00 Lakh-15% to 25%

(Depending upon purpose & quantum of finance)

Rate of Interest

ROI shall be as applicable to Agricultural advances

Security

 Hypothecation of Crops, equipments, machineries & other assets

 Third Party Guarantee/ Mortgage of Land

Repayment

7 to 11 years, depending upon the repaying capacity

Other Terms & Conditions

 Proposed well should be located in white watershed area. It should not be in dark watershed area.

 GSDA certificate for digging of new well in Grey Watershed is required.

 Insurance of assets created out of banks finance to be done.

Paper requirement

1. Loan application ie Form No -138, & Enclosure – B2

 All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant

 No dues certificates of the applicant from surrounding financial institutions including PACS

 Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged

 Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan

2. Guarantee form F-138

 All 7/12, 8 A & PACS dues certificate of the guarantors