InvestorQ : Can you share the details of the financing facility of Rs 1 lakh cr launched by PM Modi under the Agri Infra Fund? Who all are eligible for the scheme?
Gayatri Surendran made post

Can you share the details of the financing facility of Rs 1 lakh cr launched by PM Modi under the Agri Infra Fund? Who all are eligible for the scheme?

Answer
user profile image
tanvi Patel answered.
2 months ago


Prime Minister Narendra Modi has recently launched this facility via video-conferencing in an effort to boost the creation of post-harvest management infrastructure and community farming assets. This fund will help in creating farming assets such as cold storage, processing units, collection centers, etc. These assets will enable farmers to reduce wastage, low-cost stores, and selling at higher prices which will help farmers to get greater value for their production. The moratorium for repayment under this facility shall vary between 6 to 24 months.

This fund will be sanctioned under the financing facility in partnership with various lending institutions. A total of 12 banks was to sign MOUs (Memorandum Of Understanding) for this cause, out of which 11 banks have already signed. Beneficiaries of the scheme will also get 3% interest subvention and credit guarantee of up to Rs 2 crore in order to help them increase the viability of their projects. 

Eligibility:
  • Farmers
  • Startups
  • Self Help Groups
  • Marketing Cooperative Societies
  • Multipurpose Cooperative Societies
  • Farmer Producer Organization
  • Agri-entrepreneurs
  • Joint Liability Groups
  • Primary Agriculture Credit Societies
  • Central/state agency or local body sponsored public-private.