Corporate Site |
Hindi Marathi
[+] [-] | Skip to navigation | Skip to main content | screenreader Contrast Scheme : contrast
              1800 220 229 ,1800 103 1906,
              022 40919191
rect rect
yo You are here path  Rural path Facilities & Services path Financing for Draught Animals  
Financing for Draught Animals & Carts
Objective To meet the genuine credit needs of farmers for purchasing draught animals and/or carts so tht they can carry out their farm operations in time as also increase their income from hire charges of the animals/cart when they are not in use on their farms.

For purchasing draught farm animals like bullocks, he-buffaloes, camels, horses mules etc and
For purchasing animal drawn carts

  1. Farmers having owned/registered leased land may be provided credit for purchasing two animals as per requirement.
  2. A farmer can also be financed for one animal provided he/she is already owning an animal or in cases where the farmer is already owning an animal or in cases where the farmer cannot afford more than one animal.
  3. Farmers/landless labourers may be financed for a pair of animals and cart where there is enough scope for hiring the cart.
Technical Feasibility The following factors should be considered while evaluating technical feasibility
  1. Suitability of the animal/cart
  2. Availability of animal/cart
  3. Arrangement for fodder and feed
  4. Potential for sufficient work for the animals/cart
  5. Housing of animals, etc.
Financial Viability The cost of the animals and cart proposed to be purchased should be reasonable and as per unit cost fixed by NABARD. Financial Availability should be assessed considering income from own farm and hire charges of animals and cart. The incremental income should be enough to repay the loan within 4 to 5 years.
Quantum of Finance/Margin For small and marginal farmers, agricultural labourers;
Full amount of the unit cost and margin should not be insisted upon
For others 75 to 85 % of unit cost can be financed.
Type of Facility/Term Term Loan – Annual Review
  1. D.P. note (L-434)
  2. composite Hypothecation agreement (CHA 1/CHA-2)
  3. L-515
  4. Annex the clauses on non-diversion of funds and securitisation enclosed to Br. Cir.No.97/186 dated 08.03.2004 with CH I/CHA-II/CHA-IV
  5. Equitable or Legal Mortgage or Deed of Declaration of Land or collateral security as appropriate where the limit exceeds Rs. 50000 (Legal Mortgage in form CHA-4
  6. Letter of guarantee for guarantor/s where ever considered necessary (CHA-3)
  7. Insurance of Live stock
Announcement        Start | Stop

BOI Financial Results 30.06.2017

Press Release from IBA new

Integrity Pledge Count new

Public Notice for Unclaimed Dividend

List of Wilful Defaulters

With the implementation of Goods and Services Tax (GST), the existing service tax rate of 15% has been replaced by GST rate of 18% from July 1, 2017

All customers are requested to provide GSTIN to their branch alongwith supporting documents to claim input credit.

Annual Report 2017

We request our esteemed customers to urgently have their KYC details updated / corrected to avoid freezing of accounts new

MCLR w.e.f. 10.08.2017

Empanelment Of Sarfaesi Valuers

Details of unpaid / unclaimed Dividend

As part of FATCA/CRS requirements, all customers are requested to submit Declaration Form (For Individuals) / Declaration Form (For Entities) click to download with supporting documents to their Parent Branch immediately. Non-Compliance with this requirement may lead to freezing or closure of account as per guidelines.

Base Rate revised to 9.55% w.e.f 31.03.2017

List of Recovery Agents/ Enforcement Agents/Detective Agency of Lucknow Zone

Change of Registrar and Share Transfer Agent

Notice to CD Customers

Notice to Customers

Notice to SB Customers

ATM transactions for savings Bank A/c Customers

Notice for our DEMAT Account Holders

images © 2012 Bank of India. All rights reserved Site best viewed in resolution of 1024x768 ipv6 ready images
rect Ac Checker
Financing for Draught Animals