The NABARD Pashupalan Loan Scheme is a governmental effort aimed at offering financial support to individuals residing in rural regions who wish to initiate or grow their dairy farming ventures. Through this program, livestock farmers have the opportunity to access loans from NABARD-affiliated banks with favourable interest rates, facilitating self-employment opportunities.
Pashupalan Loan Scheme 2023
The NABARD Pashupalan loan scheme calculates the loan amount according to the applicant's needs. The funding can vary from Rs. 50,000 to Rs. 12 lakhs, whereas loans for dairy farming can range between Rs. 10 lakhs and Rs. 25 lakhs for loans meant for buying livestock.
Nabard Pashupalan loan scheme encompasses two distinct types of loans:
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Livestock Purchase Loan: This loan is designed to finance the acquisition of livestock.
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Dairy Farming Loan: This loan is intended to cover the costs associated with purchasing essential infrastructure and equipment for dairy farming.
Interest Rates under the Scheme:
Within the Nabard Pashupalan loan scheme, borrowers can benefit from an annual interest rate that falls within the range of 6.5% to 9%. The repayment period for these loans can be extended for a maximum of 10 years. In a parallel initiative, known as the NABARD Pashupalan Loan Scheme, individuals belonging to the SC/ST category are entitled to a subsidy that can cover up to 33.33% of their loan. Meanwhile, other applicants not falling under this category can still receive a subsidy, albeit at a slightly lower rate of up to 25%.
How to Apply for the Scheme?
To apply, applicants need to submit the following documents:
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Application Form
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Identity Proof
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Address Proof
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Income Proof
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Animal Husbandry Business Plan
The application form can be obtained from the NABARD website or any NABARD-sponsored bank. The application form should be submitted to the respective bank.
Objectives of the Scheme
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Generate employment opportunities in rural areas
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Promote the dairy industry
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Increase the income of farmers
Benefits of the Scheme
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Farmers can avail of loans at low-interest rates
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The loan tenure is up to 10 years
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Subsidies are available for the loans
Eligibility for the NABARD Pashupalan Loan Scheme
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Applicants must be Indian citizens
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Applicants should reside in rural areas
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Applicants should possess the necessary land and resources to start or expand dairy farming
How to Apply For The NABARD Pahupalan Loan?
Step 1: First, the applicant needs to visit the official website of the National Bank For Agriculture And Rural Development (NABARD).
Step 2: After going to the Official Website, open the homepage.
Step 3: On this homepage, you will see the option for the Information Centre. You need to click on this option.
Step 4: After clicking on the option, the next page will open on your computer screen.
Step 5: On this page, you will need to click on the option to download the PDF based on your plan. By doing this, the complete form of the plan will open in front of you. You need to fill out this form and submit it.
