Crop Loan (Kisan Credit Card)
This loan is given to farmers and tenants for raising of crops. Scales of finance are fixed for each crop annually. The maximum credit limit is upto Rs. 1,50,000/-(Rs. 1,12,500/- cash component + Rs. 37,500/- kind component). The loan is given in cash and kind for Kharif and Rabi crops. For Kharif crop loan is given from March to August and for Rabi crop loan is given from Sep. to Feb. The loan is repayable at the time of harvesting of each crop.
Loan for Ancillary Activities
A loan of Rs. 1000/- per acre is available to the farmers for ancillary activity subject to a maximum of Rs. 10,000/- in addition to crop loan.
Revolving Cash Credit Scheme
Under this scheme, Cash Credit limit upto Rs. 6.00 lacs is provided to the farmers against collateral security to meet out their other socio-economic requirements apart from Crop loans.
This loan is given to all types of rural artisans to meet their block capital and working capital requirements. The period of loan is one year. The Maximum Credit limit (MCL) is Rs. 35,000/.
Petty shopkeepers working capital requirements are also met by PACS. The period of the loan is one year and the MCL is Rs. 35000/-.
This loan is advanced to meet personal requirements of agricultural labourers. The period of loan is one year. The MCL is Rs. 3500/-.
M.T. loans sponsored scheme
These loans are advanced for purchase of assets like bullocks, carts, buffaloes, buggies, cross breed cows, sheep, goats etc. The MCL of these loans is as per scale of finance fixed by DRDA or as per economic unit. The period of loan is 3 years or .depending upon scheme/economic activity.
NEW SCHEMES INTRODUCED IN HARCOBANK
Personal loan Scheme for HARCO BANK STAFF
A personal loan scheme/overdraft facility for the employees of HARCO BANK to meet the requirements of education, marriage of children, foreign travel, family function and medical expenses has been implemented. The quantum of loan/ limit range from Rs. 1.50 lac to Rs.8.00 lacs depending on the pay scale of the employees. The prevailing interest is 8.50% p.a.
Personal loan scheme for Govt. employees and its enterprises
A personal loan scheme for confirmed State/Central Govt. employees and its enterprises posted at Chandigarh and Panchkula to meet their requirements of education, marriage of children, foreign travel, family function and medical expenses has been implemented. The loan limit is upto Rs. 4.00 lacs or ten times of monthly net salary whichever is less. The margin money is Nil. The prevailing interest is @14.00% p.a w.e.f. 01.07.2011. The loan is repayable in 48 equated monthly installments.
Urban Housing Scheme
The bank has introduced an Urban Housing Scheme for the Govt. employees, professionals, businessmen, traders etc. Under this scheme, the amount of loan is restricted upto Rs. 20.00 lacs only. The prevailing interest rates under this scheme are 10% p.a. floating, 10.5% p.a. fixed upto loan of Rs. 5.00 lacs and 11.25% p.a. fixed above loan of Rs. 5.00 lacs w.e.f. 01.07.2011.
Car Finance Scheme
The Bank has introduced a schemefor financing cars to the State/Central Govt. employees and employees of the Board & Corporation, employees of U.T & its Boards & Corporations, University and other public sector undertakings.The loan eligibility is equivalent to 90% of the cost of vehicle or 30 Basic Pay + Dearness Pay + Special Pay whichever is less. The prevailing interest rates are charged 10% p.a. for Govt. employees and also for HARCO BANK employee w.e.f. 01.02.2015.The loan shall be recovered in 7 years.
Scheme for Purchase of Consumer durables
Under this scheme, loans for purchase of consumer durable upto Rs. 2.00 lacs are provided to Income Tax Payee, employees of Govt., Board, Corporation and Cooperative Institutions, Autonomous Bodies, practicing lawyer, Doctor, Chartered Accountant, Engineer, Architect etc. The prevailing rate of interest is @14.00% p.a. w.e.f. 01.07.2011.
Cash Credit Facility to Businessmen/Traders against Collectaral or Hypothecation of Stock in Trade
This scheme has been introduced to provide finance for purchasing, stocking and marketing of goods and commodities and to meet out other business related expenses. This cash credit facility is provided to businessmen/traders upto a limit of Rs. 25.00 lacs. The prevailing interest are @15.00% p.a. w.e.f. 01.07.2011.
Education Loan for Professional Degree Courses
Education loans is provided to the parents of students upto a limit of Rs. 5.00 lacs for a period of four years. These loans shall be provided at Chandigarh and Panchkula city only. The interest shall be charged 13.00% p.a. (upto Rs. 4.00 lacs), 14% p.a. (above Rs. 4.00 lacs), and 0.5% rebate in interest for female child in both the cases w.e.f. 01.07.2011.
Loan to Individuals for purchase of light Commercial Vehicles
Loans shall be provided by the Bank for purchase of Light Commercial Vehicle upto Rs. 5.00 lacs or 75% of the invoice price of vehicle. This loan shall be repayable within 5 years with a moratorium period of six months. The interest shall be charge 14% p.a. w.e.f. 01.07.2011.
Advances against N.S.Cs
Any individual holder of N.S.C. will be entitled to raise loan upto 75% of the value of certificate or Rs. 2.00 lac whichever is less. The recovery of loan will be after the due date of loan or by forfeiting the N.S.Cs. on maturity. The interest shall be charged 14.00 % p.a. w.e.f. 01.07.2011.
OTHER LOAN SCHEMES INTRODUCED BY DCCBS
Loan against Gold Ornaments
Loans Available against Gold ornaments / Jewelry upto Rs. 2,00,000/-.
Consumer Durable Loan
Loans for purchase of consumer durable upto Rs. 2.00 lacs.
Cash Credit Facility
Cash credit facility available to businessmen/traders against collateral security and hypothecation of stock in trade upto Rs. 20,00,000/-.
Loans to parents of students pursuing professional degree courses of education like Engineering, Medicine etc. on the basis of the repaying capacity of parents (up to Rs. 5.00 lac).
Small Transport Loan
Finance is available under this scheme upto 85% of price of the Tpt. Vehicle both public goods and passenger transport vehicle. The Vehicle eligible for loans include for purchase of Auto-Rickshaw, Taxi, Cars Buses, Pick up truck vehicles, Lorries(within the meaning of Small Transport Operators)upto Rs. 5,00,000/-).
Loan Against NSCs
Advances against National Saving Certificates (upto Rs. 1.00 Lac).
Rural Housing Scheme
Under this scheme, loan upto Rs. 15.00 lacs is being provided for construction of houses in rural areas. The repayment period is 15 years.
Financing to farmers for two wheelers
Under this scheme the beneficiary shall be eligible to raise a loan equal to 75% of the cost of vehicle and repayment period is 5 years.
Financing to Agriculture Graduates for setting up Agriculture Clinic and Agriculture Business Centre
The beneficiary is eligible to raise financial assistance upto Rs. 15.00 lacs under this scheme.
For Purchase of land
Under this scheme small & marginal farmers can get loan for purchase of land maximum of 5 acre of non irrigated or 2.5 acres of irrigated. Margin will be 10% or as may be prescribed by RBI from time to time. Repayment period will be ten years with maximum moratorium period of 24 months.
SELF EMPLOYMENT THROUGH BANK FINANCE
Enterprise Loan Scheme (ELS)
The refinance schemes which are in force viz. Integrated Loan Scheme (ILS) and Composite Loan Scheme (CLS) have been merged and modified into a new scheme i.e. Enterprise Loan Scheme (ELS).
All manufacturing, processing, marketing and approved service activities in the SSI sector with emphasis on Cottage, Village, Tiny Industries, Rural Artisans and Rural Crafts.
All activities in rural areas or benefiting rural areas that are income generating and/or employment generating, including all service sector activities, are eligible activities under NFS for refinance assistance. For example:
- Educational Services (Educational institutions such as schools, colleges set up privately and Educational loans to students).
- Health services (Hospitals/Clinics, Health Care Units (both human & animals) set up in rural areas, mobile hospital vans with necessary equipment, Para health services, etc).
- Construction sector (Building Material Supply , Shops/marketing outlets for rural products).
- Tourism sector (Theatres, Eco-Tourism, Fair/Exhibition Complex, Hotels, Motels etc).
- Vehicles (Two wheeler/three wheelers and four wheelers other than those covered under SRWTO scheme).
- Information Technology (All activities providing information technology to the rural people).
- Infrastructure (Rural Industrial Estates, Growth Centers, Communication Networks, Rural Safe Drinking Water, etc).
Small Road and Water Transport Operators (SRWTO) Scheme
Individuals groups/ individuals including partnership/proprietary firms and Co-operative enterprises would be eligible for assistance under the scheme. The borrowers should be from the "rural areas” and should utilize the vehicle mainly for transportation of rural farm and non-farm products and inputs and passengers to/from marketing centers. The loan component may include the cost of chassis, body building expenses, initial taxes, insurance, etc. The loan disbursement under the scheme should be made directly to the supplier and/or concerned agencies.The vehicle should be duly registered with Regional Transport Authority (RTA) as "public transport” vehicle.
Central Coop. Banks in the State have also launched a program me to generate self-employment by providing credit to set-up small scale industries under following 22 approved broad groups .
Project finance for Agro. Based Projects
Financial assistance is available for Agro based projects to be set up for manufacturing of agricultural machinery, plant protection equipment, Agro processing projects (processing of food, fruit, live-stock etc.)and Agro Chemical Project. This scheme is primarily for corporate sector and State level cooperative institutions, public Limited and Private limited Companies, partnership or Prop. Concerns, Loans assistance upto SSI limit i.e. upto Rs. 60,00 lacs is available. There is no upper ceiling for Cooperative Sector and State level Corporations. The projects eligible for finance are the same as for integrated loans scheme.
Scheme for Soft Loan Assistance for Margin Money
The loan assistance towards margin money will be available to the entrepreneurs/promoters comprising individuals, proprietary/partnership concerns, groups of individuals, industrial co-operative societies, government/quasi-government agencies, promotional agencies, development corporations registered and charitable institutions and voluntary organizations.
Soft Loan Assistance for Margin Money will not be available for SRWTO schemes (with the exception to SEMFEX II borrowers) and Rural Housing.
Under the scheme for Soft Loan Assistance of Margin Money, loans upto Rs. 5.00 lacs, subject to a maximum of 20% of project outlay, will now be available for the deserving entrepreneurs both in specified farm and non-farm sectors (excluding Rural Housing and SRWTO) under ARF whether or not the financing bank avails refinance from NABARD.
Loan to other type of Societies
Labour and Construction Societies against Cash Credit limits upto Rs. 50000/- against work allotted and against pending bill upto. Rs. 100000/-, Salary Earners Societies Loan upto Rs. 50000/- to each borrowers etc., industrial and weaver society, Hafed Confed , Spinning Mills etc.
Revival Package for Short Term Coop. Credit Structure in Haryana
For strengthening the Short-Term Coop. Credit Structure the State Govt. has accepted the recommendations of Vaidyanathan Committee and has signed MoU with Govt. of India and NABARD on 20.02.2007. In the first stage of the implementation of the Revival Package Special Audit of 2390 PACS have been conducted. On the basis of these audits financial assistance amounting to Rs. 701.72 crore (Rs. 633.80 crore GoI share + Rs. 29.00 crore State Govt. share +Rs. 38.92 crore PACS share) has been worked out and 567 merged PACS affiliated to 19 DCCBs have received financial assistance to the tune of Rs. 470.49 crore from GoI and Rs. 29.00 crore from State Govt. as share of State Govt. for the Revival Package.
In the IInd phase of the implementation of Revival Package Special Audits of all DCCBs in the State have been conducted and on the basis of these audits, re-capitalization assistance of Rs. 22.61crore (Rs. 1.27 crore State Govt. share + Rs. 21.34 crore DCCBs share) of 2 DCCBs namely Bhiwani and Rohtak has been worked out and an amount of Rs. 1.27 crore has been received from State Govt.
Excess Govt. Share Capital amounting to Rs. 4.24 crore in respect of 2 DCCBs namely Jind and Panchkula has been converted into Grant-in-aid under the Revival Package.
Recovery Linked Incentive (OTS) Scheme-2007 for the members of PACS
Under Recovery Linked Incentive (OTS) Scheme-2007, interest relief amounting to Rs. 175.56 crore was given to 267646 farmers out of which Rs. 87.78 crore has been received from State Govt. as 50% share.
Timely payment incentive scheme for members of PACS for 2007-08
Under Timely Payment Incentive Scheme, a relief of 2% interest amounting to Rs. 21.84 crore has been given to 611360 farmers. The entire amount of Rs. 10.92 crore has been received from State Govt.as 50% share.
Agriculture Debt Waiver and Debt Relief Scheme-2008
Debt Waiver and Debt Relief Scheme-2008 announced by Govt. of India has been implemented and under the scheme, a sum of Rs. 831.22 Crore have been waived off to 261393 Small and Marginal Farmers. A relief of Rs. 161.80 Crore has been given to 91582, other farmers under the Scheme after the payment of (75%) "eligible amount”. Entire claims of Rs. 993.02 crore have been received from Government of India.
Implementation of Interest Subvention Schemes of Govt. of India and State Govt.for timely repayment of loans by members of PACS
State Interest Subvention Scheme-2009
Under this scheme, interest rebate @2% ( in case of crop loans) and @3% ( in case of other loans) was provided to the loanee members of PACS who repaid their loans availed from 01.03.09 to 28.02.2010 on or before due dates. Interest rebate amounting to Rs. 26.03 crore to 6,11,888 members was provided. The entire financial liability was borne by the State Government.
Interest Subvention Scheme of Govt. of India for the year 2009-10
Interest subvention @1% was provided by Government of India to the farmers who availed crop loans from 01.04.09 to 31.03.2010 and made repayment on or before due dates. Interest subvention amounting to Rs. 9.55 crore has been provided by Government of India to 4,06,061 farmers under this scheme.
State Interest Subvention Scheme-2010
Under this scheme, interest rebate @1% was provided to the farmers who availed their crop loans from 01.03.10 to 28.02.2011 and repaid on or before due dates. Interest rebate amounting to Rs. 16.80 crore has been provided to 7,24,303 farmers by the State Government.
Interest Subvention Scheme of Govt. of India for the year 2010-11
Interest subvention @2% was provided by Government of India to the farmers who availed crop loans from 01.04.10 to 31.03.2011 and made repayment on or before due dates. Interest subvention amounting to Rs. 31.73 crore has been provided by Govt. of India 6,54,880 farmers under this Scheme.
Interest Subvention Scheme of Govt. of India for the year 2011-12
Interest subvention @3% was provided by Government of India to the farmers who availed crop loans from 01.04.11 to 31.03.2012 and make repayment on or before due dates. Interest subvention claims amounting to Rs. 58.59 crore in respect of 772609 farmers have been received under this scheme from DCCBs.
Interest Subvention Scheme of Govt. of India for the year 2012-13 and 2013-14
Interest subvention @3% will be provided by Government of India to the farmers who availed/will avail crop loans during financial year 2012-13 and 2013-14 &made/ will make repayment on or before due dates. Thus, effective rate of interest on crop loans is 4% p.a. for prompt payee farmers since 01.04.2009.
State Loan Waiver Scheme for Rural Artisans, Petty Shop-keepers and Landless Labourers members of PACS.
As announced by the State Government, the Bank implemented a loan waiver scheme for Rural Artisans, Petty Shop-keepers and Landless Labourers members of PACS. Under this scheme, overdue loan out-standing as on 30.06.2009 upto Rs. 10,000/- along-with interest thereon in respect of such loanee members were to be waived off. A sum of Rs. 83.65 crore,Rs. 85.00 crore & Rs 77.02 crore has been received in three installments during the years 2010-11 , 2011-12 & 2012-13 respectively from State Government as principal amount of claims. Interest claims of Rs 174.80 crore have not been released by the State Govt. despite persisted follow-up by the Bank.
State Interest Subvention Scheme-2014 for Timely Repayments formembers of PACS”
Under this Scheme, interest rebate @4% p.a provided/will be provided to loanee members of PACS who will repay their crop loans availed from 01.09.14 to 28.02.2015 and01.03.2015to 31.08.2015 and 01.09.2015 to 28.02.2016 by the State Govt. on or before due dates.
Interest Subvention @3% p.a. on crop loan disbursed during the year 2015-16 is being provided by Government of India to the farmers who repay their dues on or before due dates. Thus,effective rate of interest on crop loan will be ‘Zero’ per cent for the prompt payee farmers (7%-4%-3%). Interest relief of Rs.96.76 crore (Rs.55.29 crore State Govt. + Rs.41.47 crore GoI) has been provided to 4.80 lacs farmers on crop loan during Rabi Recovery Season 2015
10.7 Computerisation of PACS with NABARD support
At present, entire operations of PACS are being carried out manually. Under Revival Package, the process for computerisation of PACS was initiated during 2008, but this process has not came to any logical end. Computerisation of PACS is need of the hour. State Government may consider to computerise all the PACS in the State with NABARD’s financial support.
10.8 Capital to Risk Weighted Assets Ratio( CRAR) by DCCBs
As per RBI stipulations, Coop. Banks have to attain 7% and 9% Capital Adequacy as on 31.3.2015 and 31.03.2017 respectively. As per unaudited financials of Central Coop. Banks in the state as on 31.03.2015 after converting Long Term Loan into IPDI/grant in aid all the DCCBs in the state will attain the level of 7% CRAR except DCCB M/garh.
10.9 New initiatives for working of STCCS
Pension Distribution Scheme
District Central Coop. Banks in the State have been assigned the work of distribution pension/allowances by Social Justice Empowerment Department by Haryana. Under this scheme 338399 pension accounts have been opened by the branches of these banks so far and pension is being disbursed from these banks. Under this scheme Rs.173.21 crore has been disbursed till December 2015 against which a commission of Rs.2.60 crore @ 1.50% have yet to be release by the State Govt. to the Coop. Banks. Distribution of pension through Sale-points of PACS in the State is under process.
Pradhan Mantry Surksha Bima Yojna (PMSBY), Pradhan Mantri Jeevan Bima Yojna (PMJBY) etc. have been started and Atal Pension Yojna Scheme under the theme "Jan Dhan” to "Jan Surksha” is under process.
Public Distribution Scheme through PACS
State Govt. has been requested to consider to allot distribution of ration under PDS and collection of electricity bills to PACS for improvement of their financial health. The matter for receipt of payment of electricity bills is under consideration of UHBVN and DHBVN. Similarly, distribution of PDS through PACS is also under consideration.