What’s New
>> Short Term Credit to Small Traders
>> Kisan Credit Card Scheme( KCC)
>> STC Course Calendar 2004-05
>> Credit Card Facility to ARDB Members
>> Interest on Loans further
reduced
>> Computerization of the Bank- towards “System
Online”
>> Locker Facility with ARD Banks
>> Crop Compensation Scheme of ARD Banks
>> Why Loans from ARD Banks?
Swarojgar Credit Card Scheme (SCC Scheme)
The SCC Scheme aims at providing adequate and timely credit i.e Block capital (term Loan) or working Capital (Revolving Cash Credit) or both to the eligible borrowers under NFS composite loans. A component for consumption credit can also be included in cases where family labour is involved in the production or service activity of the unit. Small artisans, handloom weavers, service sector, fishermen, self-employed persons, rickshaw owners and other micro- entrepreneurs, who as principal borrowers of the Bank, has executed Gehan and having a minimum of one completed year of satisfactory business transaction with the Bank and with nil overdue in the account, is eligible under the scheme. The minimum and maximum credit limit is Rs 5,000/- and 50,000/- respectively. The term loan component is provided for meeting the investment requirement and has to be repaid within 5 years and the working capital within 12 months from the date of drawal. The beneficiaries under the scheme shall be issued with laminated pacca photo credit card and a passbook. The SCC account can be operated as a thrift account and interest at the rate applicable to SB a/c shall be paid to the cardholder for the credit balance in the account. Landed security offer for the exiting loan shall be accepted as security for the loan also. The beneficiaries under SCC Scheme will be automatically covered under personal Accident Group Insurance Scheme at a nominal premium.
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Progress in Computerisation (As on 1st August 2005)
The computerization of 11 Regions (Viz. Pathanamthitta, Kottayam,
Alappuzha, Ernakulam, Thrissur ,Malappuram , Kozhikkode,
Palakkad, Kannur, Kasaragod and Wayanadu ) covering 33 PCARDBs and its 37 Branches have reached Online as on date on adopting the ‘Common Application Software’.
The System is expected to reach online at the remaining 3 Regions;(
viz., Trivandrum,Kollam,Idukki) covering 11 PCARDBs and its 16 Branches,
by 30/08/2005, provided the PCARDBs concerned take positive and time
bound action for the purchase and installation of required Computer
Hardware and System Software,Backdata entry/Data Porting,Checking of
data entered/ported; for ensuring its correctness etc.Out of the above
11 PCARDBs 4 PCARDBs have subsequently reached online..
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Safe deposit locker facility
KSCARD Bank proposes to start Safe Deposit Locker hiring facility to the members of the PCARDBs and General public through our Primaries having strong room facility and Regional Offices having own buildings.
The Board of Directors of the bank at its meeting held on 01/10/2003 resolved to construct strong rooms/safe deposit vaults and install Safe Deposit lockers to lease out to the general public and the sanction is awaited.
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Credit Linked Crop Compensation Scheme of KSCARD Bank
The Credit Linked Crop Compensation Scheme proposed by this Bank, aim in helping the borrowers of the bank to a considerable extent for the repayment of loan in the event of crop damage due to natural calamity and also to build up fresh plantations. The borrower will have to pay only a nominal amount of about 0.25% of the loan amount, as premium and the balance will be met by the Apex and Primary bank. Land development, farm structures, minor irrigation excluding pump sets, almost all plantation and horticulture crops, annual crops, sericulture and bee keeping will be covered under the scheme. This scheme will be launched on getting sanction from the Registrar of Cooperative Societies.
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Why loan from ARDBs?
1. A Bank with local feel.
2. Members own Bank.
3. Lowest Interest rate & No compounding of interest.
4. Documentation through mere filling of ‘Gehan’ & no registration fee.
5. No Rating of Borrowers.
6. Single window system in Credit delivery.
7. Presumptive basis valuation/security norms.
8. Implements Government Sponsored programmes.
9. Extension support to farmers/borrowers.
10. Continued thrust in rural financing..
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Kisan Credit Card Scheme( KCC)
KSCARDB has launched another new scheme viz KCCS for providing
short term credit to all farmers who have availed schematic loans from
the PCARDB and prompt in repayments. The maximum loan limit is Rs:
1 lakh and the interest rate is 9 %. The Kisan Credit Card
is valid for three years and the credit limit sanctioned is to be renewed
annually. The repayment period is 12 months and will be collected in
two half yearly installments. There is also provision for accepting
surplus cash available with the borrowers as an SB account carrying
an interest rate of 4.5% (calculated on daily basis). The operating
period of the scheme will be from July to June. All KCC holders shall
be covered under Group Personal Accident Insurance Scheme.
Presently, the scheme is implemented through selected PCARDBs viz Palode,
Kottayam, Meenachil, Ernakulam, Malanad, Irinjalakuda, Alathur, Tirur,
Perinthalmanna, Kannur, and Hosdurg. The Bank proposes to finance
Rs. 18 Crores under this scheme by June 2005.
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Short Term Credit to Small Traders
KSCARD Bank has taken a major stride in diversifying lending
by launching Short Term Credit facility to meet the working capital
credit requirement of rural and semi urban traders. The individual maximum
loan limit under the scheme is Rs.2 lakhs carrying an interest
of 10.5%. Loans are granted on the security of land/ personal
surety of two salaried persons /two established traders on mutual agreement,etc.
The repayment period shall be one year in 12 monthly installments, with
provision for daily collection . All the borrowers are covered under
Group Personal Accident Insurance Scheme during the tenure of
the loan.
The Bank plans to extend of Rs: 46 Crores as loan for the current year
(2005-06). Those who propose to avail the service may contact the "Karshika
Vikasana Bank " of your area.
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