Finance against Warehouse Receipts (WHR)
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Particulars
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Scheme Details
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Purpose
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To finance farmers/traders/processors against Warehouse Receipts (WHR) of Agricultural Commodities issued by State/Central Warehousing Corporations (SWCs/CWC), TN-Regulated Market Committees or empanelled Collateral Managers.
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Nature of loan
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- Short Term Loan (STL)
- Cash Credit
- Working Capital Demand Loan (WCDL)
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Target Group
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- Individual farmers/SHGs/JLGs /Firms (including LLPs), Companies etc.
- Farmer Producer Organizations
- Commodity Aggregators / Traders
- Food and Agro Processing Units
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Quantum of Finance
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Minimum – Rs.10.00 lakhs
Maximum – Rs. 1000.00 Lakhs
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Margin
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25% to 40% based on the Agri commodities.
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Tenor of the loan
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Maximum tenor is 12 months
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Primary Security
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Pledge of underlying stocks for which WHR/ SR has been issued with lien marked in favour of Bank.
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Collateral Security
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Nil
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Rate of Interest
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1 year MCLR +0.50% onwards
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Processing fee
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0.50% to 1.50%
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Documents Required:
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Individual Farmers
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SHG/JLG
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Processors/Traders/Commodity Aggregators
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KYC documents
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KYC of authorized signatories
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KYC documents
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Bank statements for last 1 year (if available)
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Minutes, Copy of attendance register, savings register
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Bank statements for last 1 year
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Other documents (residence proof, Land Records etc.)
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Bank statements for last 1 year
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Statutory registration documents
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Income documents - ITR or AFS
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GST Registration No. / Udyog Aadhaar Number (if any).
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