Here comes the good news for the agriculture sector. Punjab National Bank (PNB) which is India’s second-largest public sector bank is giving short-term loans under its Agriculture Credit schemes. PNB is offering instant loan facilities under various schemes where loans are being offered without any security or collateral.
SHG Covid ‘Covid Tatkal Sahayata Rin’
Under ‘Covid Tatkal Sahayata Rin’ scheme, financial assistance will be provided to individual Self Help Group members so that they can meet their immediate requirements. The scheme has been designed amid the COVID-19 lockdown. The small and poor members who want to sustain themselves in times when the economic activity has come to a halt can benefit from ‘The Covid Tatkal Sahayata Rin scheme. The government has also made some sector-specific relaxations.
PNB bank is giving assistance to individual SHG members with loan amounts ranging from Rs 5000 to Rs 1 lakh. For this loan, the bank has given a repayment period of 3 years. Adding to it, there is no margin service charges, or collateral security being taken for this loan. However, one limitation is that this loan is extended only to existing PNB customers.
Source: Krishi Jagran
Link:https://krishijagran.com/agriculture-world/latest-agriculture-emergency-credit-schemes-get-instant-short-term-loans-from-rs-5000-to-rs-1-lakh-with-no-service-charges-or-margin/
