Beed, August 6: Farmers, agri-entrepreneurs and agricultural institutions can avail collateral-free loans of up to Rs 2 crore under the Centre's Agriculture Infrastructure Fund (AIF) scheme, which also offers a 3% annual interest subvention for up to seven years to promote investment in post-harvest infrastructure.
Implemented by the Union Ministry of Agriculture and Farmers Welfare under the Aatmanirbhar Bharat initiative, the scheme aims to strengthen agricultural infrastructure by supporting projects related to storage, processing, value addition, logistics and marketing, thereby enhancing farmers' incomes.
Eligible beneficiaries include individual farmers, Farmer Producer Companies (FPCs), Primary Agricultural Credit Societies (PACS), cooperative societies, agri-entrepreneurs, startups, Self-Help Groups (SHGs) and other institutions engaged in the agriculture sector.
Financial assistance is available for setting up warehouses, cold storages, pack houses, grading and sorting units, ripening chambers, primary processing centres, silos, agri-logistics facilities, market yards and other agriculture-related infrastructure.
Under the scheme, eligible applicants can obtain collateral-free bank loans of up to Rs 2 crore. The government provides a 3% annual interest subsidy on the loan amount up to Rs 2 crore for a maximum period of seven years. Credit guarantee coverage is also available for eligible loans.
The loan repayment period is capped at seven years. Even if the total sanctioned loan exceeds Rs 2 crore, the interest subvention is applicable only on the first Rs 2 crore.
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Applicants are required to submit a prescribed loan application form, a Detailed Project Report (DPR), land ownership documents including the 7/12 and 8-A extracts, Udyam/MSME registration, PAN card, Aadhaar card and audited balance sheets for the previous three years, wherever applicable.
Applications can be submitted online through the Agriculture Infrastructure Fund portal of the Ministry of Agriculture and Farmers Welfare.
"The Agriculture Department facilitates coordination between banks and eligible beneficiaries to ensure smooth processing of proposals submitted under the Agriculture Infrastructure Fund scheme," said Subhash Salve, District Superintending Agriculture Officer, Beed.
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