The “Primary Cooperative Agriculture and Rural Development Bank: For Plantation (Tea)” scheme, launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu, is designed to provide financial assistance to farmers specifically for establishing or expanding tea plantations. This initiative aims to empower farmers by facilitating access to funds needed for tea cultivation, thereby promoting sustainable agricultural practices and enhancing overall productivity.
Benefits
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Access to Loan:
Eligible farmers can obtain a loan of up to ₹33,000 per acre for tea plantation projects. -
Interest Rate:
The loan is offered at a competitive interest rate between 11% and 11.5% per annum (subject to change).
Eligibility
- The beneficiary must be a resident of Tamil Nadu.
- The beneficiary must be a farmer.
- The beneficiary should be engaged in agriculture and interested in tea plantation.
- The loan must be used exclusively for the purpose of establishing or expanding a tea plantation.
Application Process
Offline
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Collect the Application Form:
Contact the Secretary or Special Officer of the Primary Cooperative Agriculture and Rural Development Bank to obtain the application form. -
Complete the Form:
Fill in all the mandatory fields in the application form. Paste a passport-sized photograph (signed across, if required) and attach self-attested copies of all required documents. -
Submit the Form:
Submit the duly filled and signed application form along with the necessary documents to the concerned authority. -
Obtain Acknowledgment:
Request a receipt or acknowledgment that includes the date and time of submission and a unique identification number (if applicable).
Documents Required
- Identity proof (e.g., Aadhaar Card, PAN Card)
- Address proof
- Proof of land ownership or lease
- Any other documents as specified by the scheme guidelines
Frequently Asked Questions
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What is the objective of this scheme?
To provide financial assistance to farmers for tea plantations, thereby enhancing water management, increasing crop productivity, and supporting sustainable rural development. -
What is the maximum loan amount provided under the scheme?
The scheme offers loans of up to ₹33,000 per acre. -
What interest rate applies to the loan?
The interest rate is between 11% and 11.5% per annum (subject to change). -
What documents are required for the loan application?
Applicants must submit identity proof, address proof, and proof of land ownership or lease, along with any other documents as required. -
Is there a specific income requirement to qualify?
The scheme does not specify an income requirement; eligibility is based primarily on residency, farmer status, and the need for tea plantation support. -
How can an applicant apply for the loan?
Applications must be submitted offline by collecting the application form from the Primary Cooperative Agriculture and Rural Development Bank. -
Who can the applicant contact for further assistance?
Applicants should contact the Secretary or Special Officer of the Primary Cooperative Agriculture and Rural Development Bank. -
Can farmers from all communities apply?
Yes, the scheme is open to all eligible farmers who are residents of Tamil Nadu. -
Is the loan’s interest rate fixed or adjustable?
The interest rate is adjustable within the range of 11% to 11.5% per annum.