The National Bank for Agriculture and Rural Development (NABARD) on December 31, 2024, issued Guidelines for processing of Loans under the World's Largest Grain Storage Plan.
As you are aware, to augment the agricultural storage infrastructure in the country, the World's Largest Grain Storage Plan in Co-operative Sector has been launched by Ministry of Cooperation to ensure better storage and management of food grains. This initiative is vital to improving the efficiency of grain storage, reducing wastage, and supporting the agriculture sector's growth. NABARD is providing Special Refinance Facility under PACS as MSC scheme to StcBs under Automatic Refinance Facility mode as per our Circular No.232/DOR/-59/2o24 dated 23 October 2024.
The banks may ensure the following:
• Prioritize Applications: Ensure that appraisal of DPRs and processing of loan applications related to the World's Largest Grain Storage Plan projects are done on a priority basis.
• Time bound processing: StcBs/DCCBs to avoid any delays in the processing of applications. It is advised to complete the loan processing in a time bound manner, to maintain momentum in the project's progress.
• Coordinate with PACS and Implementing agencies: Coordinate with PACS and implementing agencies such as NBCC, NCCF, NAFED, NABCONS or any agency identified to prevent any delays in approval and loan documentation processes.
• Make timely disbursements in tune with the implementation plan for the PACS to complete the projects in time and monitor the progress closely.
• Timely application for Subsidy: Ensure submission of timely application for applicable subsidies/interest subvention under different schemes like Agriculture Infrastructure Fund (AIF), Agricultural Marketing Infrastructure Scheme (AMI), Sub Mission on Agricultural Mechanization (SMAM), Pradhan Mantri Formalization of Micro Food Processing Enterprises Scheme (PMFME), Mission for Integrated Development of Horticulture (MIDH), Pradhan Mantri Kisan Sampada Yojana (PMKSY) etc.
The recent initiatives taken under Agriculture Marketing Infrastructure (AMI) Scheme and hiring of godowns constructed under the World's Largest Grain Storage Plan in Co-operative Sector are given in Annexure.
[Circular No. 328/DOR -111/2024]
