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Last Updated on 25/07/2017
IOB - Arthias Yojana

Objective              To provide financial assistance to Aarthias who are well established in the line with good reputation.
 Eligibility 1.Arthias or Commission Agents functioning in markets / mandies having field of operations in rural/ semi urban area who are having receivables from farmers / SHGs/ JLGs and buying Agricultural produce from farmers / SHGs/ JLGs are eligible for loan under this scheme.

2. They should have been authourised by the local market yard (Mandi) or Marketing Board / Committee.
 Purpose     To provide loans to commission agents for

1. Extending credit to farmers / SHGs/JLGs

2. Supply of inputs to farmers / SHGs/JLGs

3. Buying produce from farmers / SHGs/JLGs
Cash Credit limit  60 % of value of Book debts, subject to a maximum of Rs 100 lacs.
Margin 40 % of Book debts.
Security Hypothecation of Receivables and Mortgage of immovable properties other than Agricultural land and/or cash securities like NSC/KVP/LIC etc, worth atleast 150 % of the loan amount.
Repayment Cash Credit limit with healthy operations in the account, to be renewed annually.
Rate of Interest  & other details You may contact the nearest Branch for interest & other details.