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JKBANK: Loan Scheme For Establishment Of Mini Sheep Farms-Check Benefits And Apply Here Directly.

Profitable Loan Scheme For Establishment Of Mini Sheep Farms-Check Benefits And Apply Here Directly.

AIMS & OBJECTIVES

To enhance the productivity of local sheep in terms of wool and mutton production, by crossing them with superior quality breeding rams.

To ensure elimination of sheep with pigmentation, coarse wool and such other undesirable characters through selective breeding and rigorous culling.

To improve the economic condition of sheep breeders by increasing the productivity of their sheep, providing them subsidized inputs and remunerative prices for their produce.

READ ALSO: JK Bank MPAY Transaction Limit And Charges Check Here

To provide increased opportunities of livelihood to small/marginal farmers, agricultural labourers, entrepreneurs, unemployed youth etc.

SIZE OF THE FARM

50 Crossbred Ewes

BREEDING COVERAGE

Two Quality Breeding rams to be provided free of cost by Directorate Sheep Husbandry for breeding coverage.

RATE OF INTEREST (SUBJECT TO CHANGE)

 

Maturity Period

Revised Interest Rates per Annum   (Non-Withdrawable)

For Rs 2.00 Crs to Rs 2.50 Crs

 

Above Rs 2.50 Crs to Less than Rs 5.00 Crs

91 days to 180 days 5.35% 5.35%
181 days to 270 days 6.10% 6.10%
271 days to less than 1 year 6.10% 6.10%
1 year to less than 2 years 6.85% 6.85%
2 year to less than 3 years 6.60% 6.60%

 

READ ALSO: JK Bank Online Banking: Registration, Log in @JKBank.com

INTEREST RATES ON NRI DEPOSITS

The interest rates applicable on FCNR (B) deposits w.e.f January 07, 2023 shall be as under :

1 year to less than 2 years
2 years to less than 3 years
3 years to less than 4 years
4 years to less than 5 years
5 years only
FCY
USD

5.00

4.50

4.00

4.00

4.00

GBP

3.50

3.00

2.75

2.75

2.75

EUR

0.30

0.30

0.25

0.25

0.25

JPY *

0.00

0.00

0.00

0.00

0.00

CAD*

3.00

3.00

3.25

0.00

0.00

AUD *

2.90

2.95

3.10

0.00

0.00

*Deposits in JPY,CAD & AUD to be accepted for a maximum period of 3 years only.

READ ALSO: Jammu Kashmir Bank Calendar 2023 Available, Download PDF

The interest rates applicable on RFC deposits w.e.f  January 07, 2023 shall be as under:

RFC Term Deposits
Period
USD
GBP
EUR
JPY
1 Month to less than 6 Months

2.18

1.72

0

0

6 Months to less than 1 Year

2.39

2.05

0

0

1 Year to less than 2 Years

5.00

3.50

0.30

0

2 Years to  less than 3 Years

4.50

3.00

0.30

0

3 Years

4.00

2.75

0.25

0

 

RFC Saving Deposits

The interest rates applicable on RFC Saving deposits w.e.f  January 07, 2023 shall be as under:

Currency USD GBP EUR JPY
Interest Rate

0.54

0.43

0

0

The revised interest rates shall be applicable on fresh deposits and renewal of maturing deposits.

The minimum contract period of NRE Term Deposits is 1 Year.

MARGIN FROM BORROWERS

15% of unit cost

DISBURSEMENT

Term loan component of 17,200/- plus margin amount of 37800/- from the borrower shall be utilized for construction of low cost shelter and procurement of equipment as per technical specification provided by Directorate of sheep Husbandry.The cost of live stock i.e. 1,50,000/- .shall be remitted out of the Term Loan component directly in favour of the supplier of live stock., after ensuring proper end use of funds released for shelter and equipment.Grazing, feeding & Vet. Healthcare charges of 32, 800/- per unit shall be released to the borrower in four equal quarterly installments of 8, 200/- each. 1st installment shall be disbursed immediately after procurement of live stock.

TENURE

6 years including Moratorium of one and a half year from 1st Disbursement.

REPAYMENT PERIOD

The Term loan facility of 2.00 lacs shall be repaid in 10 equal half yearly installment of 20, 000/- each starting after 18 months from 1st disbursement.

SECURITY

Hypothecation of live stock, and other assets created.

3rd party guarantee of two persons, having sufficient means to withstand the liability.

INSURANCE

a) Live stock

Comprehensive Insurance of Live Stock.

b) Breeder (borrower)

Insurance cover to sheep breeders under the ‚Äúsocial Security Scheme‚ÄĚ of Central Wool Board which shall cover natural as well as accidental death and also total or partial disability @rupee330/annum, out of which the breeder shall pay¬†rupee80/- and the rest shall be contributed by Government of India & LIC. The cover shall be:

(Amt. in Rupees)

Natural Death 60,000
Accidental death 1,50,000
Total Disability 1,50,000
Partial Disability 75,000

 

PRE-PAYMENT

The borrower can pre pay the Term loan after initial lock in period of 3 years from the date of disbursement. The Subsidy component over and above the actual utilization in such accounts shall be returned to the Directorate of Sheep Husbandry Via account Payee instrument.

READ ALSO: JK Bank Calendar 2023 PDF, Holidays List, Download PDF

IDENTIFICATION OF BORROWERS

Borrowers under the scheme shall be identified & sponsored by Concerned District Sheep Husbandry Officer.

OTHER INCENTIVES FROM SHEEP HUSBANDRY DEPARTMENT

The Department shall provide two good quality rams free of cost to each unit for breeding coverage.

The department shall provide round the year free veterinary healthcare /aid to each Mini sheep Farm. The medicines required for the purpose and available with the Deptt. Shall be provided to the unit at subsidized rates.

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