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Agriculture Infrastructure Fund

The Union Cabinet in July 2020 has approved a new pan India Central Sector Scheme called Agriculture Infrastructure Fund (National Agriculture Infra Financing Facility). The scheme shall provide a medium - long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through interest subvention and financial support.

Scheme duration

The duration of the Scheme shall be from FY2020 to FY2032 (10 years).

Intended beneficiaries

  • Agricultural Produce Market Committee
  • Agri-Entrepreneur
  • Central sponsored Public-Private Partnership Project
  • Farmer
  • Farmer Producers Organization
  • Federation of Farmer Produce Organisations
  • Joint Liability Groups
  • Local Body sponsored Public-Private Partnership Project
  • Marketing Cooperative Society
  • Multipurpose Cooperative Society
  • National Federations of Cooperatives
  • Primary Agricultural Credit Society
  • Self Help Group
  • Federations of Self Help Groups
  • Start-Up
  • State Agencies
  • State Federations of Cooperatives
  • State sponsored Public-Private Partnership Project

Benefits

  • All loans under this financing facility will have interest subvention of 3% per annum up to a limit of Rs. 2 crore. This subvention will be available for a maximum period of seven years.
  • Further, credit guarantee coverage will be available for eligible borrowers from this financing facility under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for a loan up to Rs. 2 crore. The fee for this coverage will be paid by the Government.
  • In case of FPOs the credit guarantee may be availed from the facility created under FPO promotion scheme of Department of Agriculture, Cooperation & Farmers Welfare (DACFW).
  • Moratorium for repayment under this financing facility may vary subject to minimum of 6 months and maximum of 2 years.

How to apply

To apply online, click here.

Checklist of Documents

  • Bank’s loan application form / Customer Request Letter for AIF Loan duly filled and signed
  • Passport size photographs of the promoter/partners/director
  • Identity proof – Voter ID card/PAN card/Aadhaar card/Driving license
  • Address Proof :
    • Residence: Voter ID card/Passport/Aadhaar card/Driving license/Electricity Bill/Latest property Tax Bill
    • Business Office/Registered Office: Electricity Bill/Latest Property Tax Receipt/Certificate of Incorporation in case of Companies/Certificate of Registration in ca of partnership Firms
  • Proof of Registration
    • In case of Company : Article of Association
    • In case of Partnership : Certificate of Registration of Firm with Registrar of Firm
    • In case of MSMEs : Certificate of Registration with District Industries Centre (DIC)/Udyog Aadhar Copy
  • Income Tax Return for last three years, If available.
  • Audited Balance Sheet of last 3 Years, If available.
  • GST Certificate, if applicable.
  • Land ownership records – title deed/lease deed. If applicable, then Permission to mortgage the Immovable Property from the Lessor in case the Property is Leasehold (for primary security)
  • ROC Search Report of the Company
  • KYC documents of the promoter/firm/company
  • Copy of Bank Statement for last one year (If available)
  • Repayment track record of existing loans (Loan Statement)
  • Net Worth Statements of promoter
  • Detailed Project Report
  • As applicable - Local authority permissions, Layout plans/estimates, Building sanction

To view the complete scheme guidelines, click here

Source : National Agriculture Infra Financing Facility



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