If you are practicing agriculture in India then you can apply for the Agriculture Infrastructure Fund Scheme 2024 which is provided to help farmers get long-term loan opportunities without having to worry about the high interest rates that are available in the market as of now. You can check out the details related to the scheme from the article provided below and we will also share with you all the step-by-step procedures through which you will be able to do the online registration for the scheme. We will also share with you all the login procedures that you need to follow to be a part of this scheme.
About Agriculture Infrastructure Fund Scheme 2024
The farmers of India will be highly benefit from the development of the Agriculture Infrastructure Fund Scheme to help them continue their practices in India without having to worry about the financial differences that they are going through due to the COVID-19 or the economic slowdown of the country’s currently witnessing. The main objective of this scheme is to provide a long-term facility for investments in different types of projects for post-harvest management infrastructure and also the farming assets available in the community. The government will provide systems regarding interest subsidies to all the farmers and the farmers will be able to take loans from different types of government departments without having to worry about the repayment of the loan or the high-interest rate.
Also Read: mKisan Portal
Benefits Of Fund Scheme
The main benefit of the scheme is to provide proper opportunities for all agricultural activities and the central and the state government will come together to implement this scheme in the various states of India without any problems or hurdles. The size of the financial facility under the scheme will be one lakh crore and all of this will be implemented to provide proper opportunities to the farmers. The credit guarantee of loans will be provided of up to rupees 2 crores. The government will be providing an interest subsidy of 3% per annum limited to the two crore rupees project. There will be one eligible entry and the local government will access the directory code for all the projects. The interest will be provided for 7 years under this scheme.
Implementation Of Agriculture Infrastructure Fund Scheme
The Agriculture Infrastructure Fund Scheme will be implemented during the financial year of 2020 to 2013 to provide proper opportunities related to agriculture to the farmers of India. The loan will be completed under this scheme in 6 years. For the financial year 2022, the project will be of rupees 4000 crores and the money will be distributed among the agriculture activities department of India. The balance amount of rupees 96000 crores will be distributed to help the farmers in the coming years. ₹16000 crores will be disbursed in 2021-22 and ₹20000 crore will be disbursed in the next 4 years till 2022-23 to 2025-26. The repayment of the financing facility will be for a maximum period of 7 years which includes a moratorium period of 2 years
Components Of the Agriculture Infrastructure Fund Scheme
There are three components of the scheme and you can check out the details related to each component from the pointers given below:-
- Interest subvention cost- Under this component of the scheme 3% interest subvention per annum will be provided up to a limit of 2 crores. The government is going to provide the subvention for a maximum period of 7 years. The national monitoring committee will fix the extent percentage of funding to the private entrepreneurs
- Credit guarantee cost- Under the credit guarantee fund trust for micro and small enterprise credit guarantee coverage will be provided to the eligible borrower up to a maximum limit of Rs 2 crore. The fees for this coverage will be paid by the government
- The administration cost of PMU– PMU support to the scheme at the Central and state level will be provided by the farmer welfare programs implementation society under DSCFW. To support the beneficiaries gaps in the supply chain will be filled to target projects and prepare viable project reports
Eligible Projects
The following projects are eligible to apply for the agriculture infrastructure fund scheme:-
- Post Harvest Management Project
- Supply chain services which include an e-marketing platform
- Warehouses
- Silos
- Pack houses
- Assaying units
- Sorting and grading units
- Cold chains
- Logistic facilities
- Primary processing centres
- Ripening chambers
- Viable Projects for Building Community Farming Assets Including
- Organic inputs production
- Biostimulant production units
- Infrastructure for smart and precision agriculture
- The project was identified as providing supply chain infrastructure for a cluster of crops including export clusters
- Projects that are promoted by central/state/local governments and their Agencies under PPP in community farming assets and post-harvest management projects
Participating Institute
The following Institutes will be participating in the agriculture infrastructure fund scheme:-
- Schedule commercial banks
- Schedule Cooperative Bank
- Regional rural bank
- Small Finance Bank
- Non-Banking financial companies
- National Cooperative Development Corporation
Beneficiaries of the Agriculture Infrastructure Fund Scheme
The following people can easily apply for the agriculture infrastructure fund scheme:-
- 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
Required Documents
The following documents are required to apply for the Agriculture Infrastructure Fund Scheme:-
- 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 the case of Company: Article of Association
- In case of Partnership: Certificate of Registration of Firm with Registrar of Firm
- In the case of MSMEs: Certificate of Registration with District Industries Centre (DIC)/Udyog Aadhar Copy
- Income Tax Return for the last three years, If available.
- Audited Balance Sheet for 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 the last 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
Also Read: Kisan Credit Card Yojana
Agriculture Infrastructure Fund Scheme 2024 Registration Process
To register yourself at the official website you will have to follow the simple procedure given below:-
- You will first have to visit the Agriculture Infrastructure website of the scheme by clicking on the link given here
- The home page will open on your screen
- On the homepage, you are required to click on the Beneficiary Registration
- A new page will appear before you
- On this page, you have to enter your name, mobile number, and Aadhar number
- After that, you have to click on send OTP
- Now you will receive an OTP
- After that, you have to enter the OTP into the OTP box and click on verify
- After that, you will be redirected to a new page
- On this page, you have to enter all the required details
- After that you have to click on submit
- Now you will receive a beneficiary id on your mobile number
- You have to log in to the portal by using the beneficiary id
- After that, you have to fill out the application form by entering all the required details
- Upload all the required documents and click on submit to register under the scheme
Login On The Portal
To log in to the official website you will have to follow the simple procedure given below:-
- You will first have to visit the official website of the scheme by clicking on the link given here
- The home page will open on your screen
- On the homepage, you are required to click on the login option
- The Login form will appear before you
- In this form, you have to enter the login credentials and click on the login to log in to the portal
Get Details Regarding Eligible Projects
To get the details related to the eligible projects you will have to follow the simple procedure given below:-
- You will first have to visit the official website of the scheme by clicking on the link given here
- The home page will open on your screen
- On the homepage, you are required to click on eligible projects
- A new page will appear on your screen
- On this page, you can get details regarding eligible projects
Details Regarding Fund Allocation
To get the details related to the fund allocation you will have to follow the simple procedure given below:-
- You will first have to visit the official website of the scheme by clicking on the link given here
- The home page will open on your screen
- On the homepage, you are require to click on fund allocation
- You will redirect to a new page
- On this page, you can get details regarding fund allocation
Details Regarding Lending Institutions
To get the details related to the leading Institutions you will have to follow the simple procedure given below:-
- You will first have to visit the official website of the scheme by clicking on the link given here
- The home page will open on your screen
- On the homepage, you are require to click on the lending institution
- The following options will appear on your screen:-
- Eligible institution
- Interest rates
- You have to click on the option of your choice
- The required details will be on your computer screen
Contact Details
To get the details related to the contact information you will have to follow the simple procedure given below:-
- You will first have to visit the official website of the scheme by clicking on the link given here
- The home page will open on your screen
- On the homepage, you are require to click on the contact us option
- A new page will appear on your screen
- You can view contact details