Advances under differential Rate of Interest scheme.
In additional to verifying correctness of the documents obtained, the Manager/officer should also see that -
1. The borrower have been properly identified and screened before granting the advance.
2. The income of the borrower from all sources (i.e. family income) is not more than Rs. 18000/- per annum is rural areas and Rs. 24000/- per annum in urban and semi urban areas.
3. For productive purpose, composite loan amount is not more than Rs. 15,000/-
4. For housing purpose loan limit is Rs. 24000/- per beneficiary.
Note : The Beneficiary should either not own any land or size of his holding should not exceed one acre in case of irrigated land and 2.5 acres in case of irrigated land. However members of SC/STs are eligible for the loan under the scheme irrespective of their land holdings provided they satisfy other criteria.
5. Repayment is being received as stipulated in the sanction.
The following may be kept in view :
1. Maigin money is NIL.
2. The certificate of income should be demanded only when it is easily and freely available to the borrower. The branch manager may waive this condition and obtain a declaration from the borrower regarding his income. However, the Branch Manager should satisfy himself regarding the borrower’s eligibility by making such local enquiries as may be required in each case, before sanctioning the loan.
In additional to verifying correctness of the documents obtained, the Manager/officer should also see that -
1. The borrower have been properly identified and screened before granting the advance.
2. The income of the borrower from all sources (i.e. family income) is not more than Rs. 18000/- per annum is rural areas and Rs. 24000/- per annum in urban and semi urban areas.
3. For productive purpose, composite loan amount is not more than Rs. 15,000/-
4. For housing purpose loan limit is Rs. 24000/- per beneficiary.
Note : The Beneficiary should either not own any land or size of his holding should not exceed one acre in case of irrigated land and 2.5 acres in case of irrigated land. However members of SC/STs are eligible for the loan under the scheme irrespective of their land holdings provided they satisfy other criteria.
5. Repayment is being received as stipulated in the sanction.
The following may be kept in view :
1. Maigin money is NIL.
2. The certificate of income should be demanded only when it is easily and freely available to the borrower. The branch manager may waive this condition and obtain a declaration from the borrower regarding his income. However, the Branch Manager should satisfy himself regarding the borrower’s eligibility by making such local enquiries as may be required in each case, before sanctioning the loan.
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