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Cent Fisheries and Aquaculture Infrastructure Development Fund (FIDF) Scheme

Purpose

 

Creation and modernization of capture and culture fisheries infrastructure, Creation of Marine Aquaculture Infrastructure, Creation of modernization of Inland Fisheries Infrastructure

Eligibility

*State Govt./ Union Territories, State owned corporations/ State Govt. undertakings/ Govt. sponsored supported organisations

Nature of facility

Term Loan/ CC/ OD/ NFB limits- Bank Guarantee

Margin

Minimum 20%

Quantum of Loan

There is no cap on upper limit

Interest

 

*Up to Rs 3.00 Lakh : MCLR + 1.35%

 Above Rs 3.00 Lakh to Rs 10.00 Lakh : MCLR + 2.50%

 Above Rs 10.00 Lakh up to Rs 100.00 Lakh : MCLR + 3.00%

 Above Rs 100.00 Lakh : As per credit rating of the borrower

Repayment

 

CC/OD to be renewed every year. T/L maximum loan period is 12 years including maximum moratorium of 2 years, repayable in monthly / Half yearly / Yearly instalments based on harvesting and marketing of Crops.

Security

Primary Security :Hypothecation of Stock / Book Debts / Hypothecation of plant & machineries (in case of loan of machineries)

Collateral Security : No collateral securities are required up to Rs 5.00 Cr if the activity is eligible under Micro and Small enterprises as per defined MSME ceilings, since the advance will be covered under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

Advances above Rs 5.00 Crore and Advances not covered under CGTMSE 150% of limit, collateral securities is required.