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UCO Kisan Tatkal Scheme

The UCO Bank has launched a new loan product called the UCO Kisan Tatkal Scheme to provide instant credit to farmers to meet emergency financial needs for agriculture and domestic purposes. The scheme provides term loans between Rs. 1,000 to Rs. 50,000 to existing Kisan Credit Card holders with a satisfactory repayment history of at least two years. Loans are repayable within 3 years and will be classified as priority sector lending. No additional security is required if the combined exposure of the Kisan Credit Card and loan remains below Rs. 1 lakh. Branches are advised to sanction loans according to the terms and conditions outlined in the circular.

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744 views2 pages

UCO Kisan Tatkal Scheme

The UCO Bank has launched a new loan product called the UCO Kisan Tatkal Scheme to provide instant credit to farmers to meet emergency financial needs for agriculture and domestic purposes. The scheme provides term loans between Rs. 1,000 to Rs. 50,000 to existing Kisan Credit Card holders with a satisfactory repayment history of at least two years. Loans are repayable within 3 years and will be classified as priority sector lending. No additional security is required if the combined exposure of the Kisan Credit Card and loan remains below Rs. 1 lakh. Branches are advised to sanction loans according to the terms and conditions outlined in the circular.

Uploaded by

Suvasish Dasgupta
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CRN/ /2012-13

Head Office
Agriculture and Rural
Circular No.
Business Department UCO BANK CHO/ARBD/75/2012-13
10, B.T.M. Sarani, (A Govt. of India Undertaking) Date 10.01.2013
Kolkata – 700001 HONOURS YOUR TRUST
===============================================================
To ALL Branches & Offices in India

SUB: New Loan Product: UCO KISAN TATKAL SCHEME


Gist & Action Pont
A new scheme :- UCO KISAN TATKAL SCHEME for providing instant Credit to the
farmers to meet their emergency financial requirement for their Agriculture and
Domestic purpose is being launched.

With a view to extend financial support to the farming community to meet their
emergency requirement of funds to tide over the temporary financial crisis and
keep their Agriculture/Allied activities and domestic front stable the new
scheme- UCO KISAN TATKAL is launched.

The details of the scheme is given below,

Purpose: An instant credit for farming community to meet the


emergency requirements for Agriculture and Domestic
purposes for tiding over temporary financial difficulties.
Eligibility: Individual farmers / joint borrowers (not exceeding 4 farmers)
who are existing Kisan Credit Card (KCC) holders having
satisfactory track record of at least two years.
Type of Loan: It shall be single transaction Term loan limit Loan repayable
within 3 years.
Quantum of Minimum limit: Rs.1000/ ; Maximum limit: Rs.50000/-
loan/Ceiling: (Subject to ceiling at 50% of KCCS limit / 25% of annual
income)
Security: Existing security /ies obtained for KCC to be continued.
No additional securities to be obtained even if the combined
exposure (KCC plus proposed Kisan Tatkal Scheme) exceeds
the present cut-off ceiling of Rs.1 lakh.
Repayment: 3-5 years in half yearly / annual installments.
The loan is to be cleared in full if a fresh / enhanced limit is
sought during the subsequent year based on revised KCCS
limit.
Rate of Interest: At Base Rate (without interest subvention).
Penal Interest: As per guidelines of RBI.
Upto Rs. 25000.00 : Nil
Above Rs. 25000.00 : As per extant guidelines.
Disbursement: After the harvest period of the crops, the farmer(s) shall be
eligible for the loan.
Application: The existing application A116 (Revised) Form-A.
Documentation: As per Bank’s extant guidelines.

Processing and Upto Rs. 25000.00 : Nil


other charges: Above Rs. 25000.00 : As applicable to agriculture term
loan
Post-sanction Minimum half yearly farm visits, as applicable to KCC limits.
monitoring &
follow up:
Loan Priority Sector- Direct Agriculture
classification:
Repayment: In suitable half-yearly / annual installments coinciding with
overall income generation of the farmer.
Asset Since it is essentially granted as post harvest facility to provide
classification: liquidity to farmers, the ‘Crop season’ delinquency norm will
be applicable for asset classification.
Customization Customization will be communicated separately .

The Branches & Offices are advised to make a careful note of the same and
sanction loans to the farmers as per the above terms & conditions.

Dy. General Manager


ARBD,FI,RRB & SLBC
(Independent Charge)

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