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PRIORITY CREDIT SECTION
Agriculture And Rural Credit Schemes Other Priority Sector Loans
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EDUCATION LOAN AND OTHER PRIORITY SECTOR LOANS

A.  Loans for Students

Purpose: Payment of course fees.Purchase of books, equipments, instruments, uniform, payment of hostel fees, examination fees, study tours, passage expenses (for studies abroad)
Eligible Courses : Studies in India:
Graduation, Post-graduation including technical / professional courses with employment potential conducted by colleges / Universities approved by UGC / Govt./AICTE/Department of Electronics / IMC, autonomous institutions like IIT,IIM etc.
Studies abroad: Job oriented, technical / professional courses- (graduation / post graduation
Quantum of Finance: Need based finance
For studies in India : Max. Rs.10.00 lacs
For studies abroad : Max. Rs.20.00 lacs
Margin Upto to Rs.4.00 lacs – Nil
Above Rs.4.00 lacs – for studies in India – 5%
studies abroad : 15%
Security: Loan is given jointly to the student and parent /guardian
Assignment of future income of the student
Upto Rs.4.00 lacs- No security
Above Rs.4.00 lacs upto Rs. 7.50 lacs –Satisfactory third party guarantee
Above Rs. 7.50 lakhs: Collateral security equal to 100% of the loan amount.
Repayment Commences one year after completion of the course or six months after getting employment, whichever is earlier.
Loan with interest is repayable in equated monthly instalments within 5 to 7 years.
Credit Delivery
Loan can be availed from the branch nearest to the place of permanent residence of the parent / guardian.

B.  Laghu Udyami Credit Card Scheme(LUCC)

Objective

LUCC Scheme is devised to provide hassle free financial support to small business units, retail traders, artisans, village industries, SSIs and tiny units, P & SE and small entrepreneurs. 

Purpose 

To meet Working capital requirement of small business units, retail traders, artisans, village industries, SSIs.

Eligibility

All existing small borrowers of above mentioned categories enjoying aggregate loan / limit of upto Rs 10 lakhs are eligible Borrowers should have satisfactory dealings with the bank for atleast for the last 3 years.borrowers with continuous satisfactory past dealings for a minimum period of 3 years but not having any liability right now can also be issued the card. 

Loan Quantum

Maximum upto Rs.10.00 lakhs per borrower (aggregate)

C.  Loan for Retail Traders

Purpose 

For meeting the working capital/term-loan requirements.

Eligibility

Retail Traders dealing in essential commodities (fair price shops), consumer co-op stores and private retail traders with credit limit not exceeding Rs. 20 lacs.


D.  Loan for Solar Water Heating Systems

Purpose

To purchase brand new solar water heater systems with necessary accessories

Eligibility

Individuals, Institutions, Associations, Small Business establishments, Industrial establishments, Hospitals, Hotels, Hatcheries, SMEs etc..

Salaried individuals should have minimum monthly net take home salary of 25% of their gross salary OR Rs. 2000/- (after meeting the loan instalment) whichever is more. Professionals and other non-salaried class should have a minimum net yearly income of Rs. 50000/-.

E.  Direct Financing to Self Help Groups

Purpose -To build mutual trust and confidence between the bankers and rural poor through formation of Self Help Groups
- To encourage banking activity both in thrift and credit operations.
- Credit Assistance to the Group on the extent of Savings mobilised, which varies from 1:1 to 1:4.

F.  Finance to NGOs/mFIs for on-lending to SHGs

Type of eligible intermediaries:

a)         Societies registered under Societies Act, 1860 or similar State Acts.

b)         Trusts registered under Public Trusts Act, 1882 or similar acts.

c)         Not for profit companies registered U/S 25 of Companies Act, 1956.

G.  Prime Minister's Rozgar Yojana (PMRY)

Eligibility The educated unemployed youth within the age group of 18 to 35 years, 45 years in respect of Women/SC/ST/Ex-servicemen/ physically handicapped, 40 years for general category in respect of North Eastern States, Uttarakhand, Jammu & Kashmir and Himachal Pradesh. Annual family income should be less than Rs. 1 lakh.
Activities To set up micro enterprises relating to service, business and manufacturing & all economically viable activities including agriculture and allied activities but excluding direct agricultural operations.
Project Cost For Business / Service activity - Max. Rs. 2 lakh For Manufacturing/ Industry sector activities - Max Rs 5 lakhs For Partnerships - Max. Rs. 10 lakh
Sponsoring
Authority
District Industries Centre.

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