In harvesting season there is a huge arrival of particular commodity in the market in very short period, which causes substantial fall in market prices of the commodity. Farmers do not have capacity to hold their stock, so they have to sell their produce at a very meager rate in the market. Under the pledge loan scheme the farmer keeps his produce in the APMC godown and gets 75% of the value as loan. As the prices of the commodity rise in the market the farmer sells his produce in the market and repays his loan and thus fetches higher price for his produce reasonable levels.
Since 1990, the MSAMB has been implementing this scheme of pledge loan for the benefit of farmers of the State. The scheme of pledge loan is available for Moong, Tur, Udid, Soyabean, Paddy, Sunflower, Safflower (Kardai), Gram (Chana), Jawar, Bajra, Maize, Wheat, Ghewda (Rajma), Turmeric, raisin(Bedana), Cashew nuts and Betel nuts (Supari) in this scheme.
Under this scheme, a farmer can store his produce in Godowns of APMC and can immediately get 75% cost of his produce at an interest rate of 6%. Farmer can avail the pledge loan facility by storing the produce in the godowns of state Warehousing Corporation or Center Corporation. The APMCs maintain this pledged stock free of cost. The farmers can sell their produce when the prices are higher.
Under the scheme, the farmer gets agricultural pledge loan up to 75 % of the value of the produce prevailing in the market, an interest rate of 6%. The farmer is allowed to avail this facility up to a period of 180 days. Rebate of 3% on interest is given as promotional incentive to those APMCs who repay within 180 days. If APMC fails to repay within 180 days then APMC cannot avail the incentive rebate of 3%. After 180 days interest rate will be 8% for next 6 months, after that interest rate will be 12% next 6 months.
MSAMB has disbursed Rs.23,324.75 Lacks Agricultural pledge loan to the farmers of Maharashtra State through APMCs since 1990-91 up to 2019-20 as a marketing initiative.
|No||Commodity||Limit of Loan||Period||Rate of Interest|
|1||Soyabean, Tur, Moong, Udid, Paddy, Safflower (Kardai) Sunflower, Turmeric and Gram, Jawar, Bajra, Maize & Wheat||75 % of total cost (as per market rate or MSP which is less)||180 days||6%|
|2||Ghewda (Rajma)||75 % of total cost. Or maximum Rs. 3000/- per Quintal (which is less)||180 days||6%|
|3||Cashew nuts||75 % of total cost. Or Rs. 100/- per Kg (which is less)||180 days||6%|
|4||Betel nuts (Supari)||75 % of total cost. Or Rs. 100/- per Kg (which is less)||180 days||6%|
|5||Raisin (Bedana)||75 % of total cost. Or maximum Rs. 7500/- per Quintal (which is less)||180 days||6%|
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