Here comes the good news for 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 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 get benefitted by '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 amount ranging from Rs 5000-Rs 1 lakh. For this loan, the bank has given a repayment period of 3 years. Adding to it, there is no margin or service charges or collateral security being taken for this loan. However, one limitation is that this loan is extended only to the existing PNB customers.
PNB Kisan Tatkal Rin Yojana
Second, PNB scheme which is being offered is PNB Kisan Tatkal Rin Yojana. The scheme has been designed to provide financial assistance to farmers so that they meet their emergency requirements for Agriculture & Household Needs to tide over temporary difficulties.
The loan limit for PNB Kisan Tatkal Rin Yojana is up to Rs 50000 with easy payment options. The person who is taking the loan can repay it in the time period of 3 years.
