Purpose
The Scheme aims at providing adequate and timely working capital to well run Rubber Producer's Societies (RPS) and Rubber Trading Companies (RTC) jointly promoted by the Rubber Producer's Societies and the Rubber Board, having their own processing and/or marketing facilities from the bank in a flexible, hassle free and cost effective manner. The scheme is designed to achieve financial independence of Small Rubber Growers, resulting in overall development and growth of Rubber Plantation Sector.
Eligibility
Well run Rubber Producer's Societies having their own processing and/or marketing facilities for the benefit of their members. Rubber Trading Companies jointly promoted by the Rubber Producers’ Societies and the Rubber Board are also eligible for need based working capital limits under the Scheme.
Loan Amount
Minimum Rs.25,000/- to Maximum Rs.50,0000/- (Higher amount can be considered based on the scale of operations of the society). Limit can be fixed taking into account the cash budget submitted by the society
Security
Primary Security : Hypothecation of stock and receivables
Collateral security : Nil
Rates & Interest
Please refer rates & charges page
Repayment
Limit shall be in the form of a revolving cash credit for a period of three years and will be reviewed every year