Processing Loan Applications and Criteria for Eligibility in Farm Loans
Learn about the methods and mechanics of processing loan applications, the procedure for sanctioning farm loans, criteria for loan eligibility, submission of requisite documents, and post-credit follow-up measures in agricultural finance. Dr. J.P. Singh, Associate Professor at SGRR University, Dehradun, provides valuable insights into the loan application process and best practices for farmers seeking financial assistance.
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Presentation Transcript
LECTURE PREPARED BY - Dr. J P Singh Associate Professor (SGRRU, Dehradun ) DEPARTMENT of AGRICULTURE SHRI GURU RAMRAI UNIVERSITY, DEHRADUN UTTARAKHAND
Outline Methods and mechanics of processing loan application
Procedure for Sanctioning Farm Loan Interview with the farmer Submission of loan application by the farmer Scrutiny of records Visit to the farmer s field Criteria for loan eligibility Sanction of loan Disbursement of requisite documents Distribution of loan Post credit follow up measures Recovery of loan.
Criteria for Loan Eligibility He should have good credit character and financial integrity His financial transactions neighboring and financial institution must be proper. He must have progressive outlook He should have firm commitment to implement the proposed plan The security provided by the farmer towards the loan must be free from any sort of litigation. with friends
Submission of Requisite Documents Demand promissory note Deed of hypothecation movable property Deed of mortgage Guarantee letter Installment letter Authorization letter regarding repayment of loan
Thank you Prepared By - Dr. J P SINGH ASSOCIATE PROFESSOR DEPARTMENT OF AGRICULTURE AND AGRONOMY
