Scheme to “Uplift the poor & Agricultural labour to make the earning double”

                 Dairy farming is a class of agriculture for long term production of milk which is processed for sale of dairy product. Most of the dairy farms are situated in the urban areas and milk being collected from various parts of the rural areas.

    Agricultur being the back bone of the Indian economy, MACS has been contributing significantly in accelerating the pace of rural development by providing finance to poor, Agricultural labor, small and marginal farmers who are below poverty line/low income group, as per guide lines of the state and central government.

        MACS, with an intention to uplift such a low income group and to make their earning double within a short span of time, introduced the dairy loan/scheme, to finance for purchase of milt animals, to get a good returns for their product of the milk into the market.

The mode of finance covers to meet capital expenditure as well as working capital requirements of the units engaged in dairy.

Eligibility:

• All persons including small and marginal, farmers, Agricultural labor, individuals below poverty line and low income group.
• Persons who want to avail loan must become a share holder of the society.

Nature of Facility:

• Term loan: for purchase of milt animals
• Overdraft: for working capital (for Purchase of feed, maintenance, etc)

Repayment schedule:

         Term loan for purchase of milt animals: 36 months (100 to 150 weeks)

         Over draft               till completion of repayment

         Rate of interest     15 %( flat)

          Margin                     15% of cost of the animals

          Loan amount         Min: 50,000/-

                                             Max: Rs.50,000/-

Security:

1.    If loan amount exceeds Rs. 50,000/-, collateral property to be mortgage

2.    2.No. of surities if loan amount below rs.50,000/-

3.    Hypothecation of milch animals

4.    Milch animals to be insured.