Write a letter to the Chairman of all State Co-operative Banks for financing Seasoning Agricultural Operations (SAO) in about 150 words.
N-35, BandraKurla Complex,
NABARD Head office,
Master Direction: XYXXXX
State Co-operative Banks
Subject: Financing Seasoning Agricultureal Operations (SAO)
All the State Co-operative Banks (StCBs) are advised to finance Seasoning Agricultural Operations to all eligible districts. The rate of interest on NABARD finance to StCBs will be 4.5% p.a. which is subject to change, if any, by Govt. of India. The Short-term Co-operative Credit Structure in the State together with their own involvement provides crop loan up to Rs. 3.00 lakh per borrower/farmer at 7% p.a. or less. The Bank is required to furnish an undertaking to this effect. The StCB/StCBs are also required to report the monthly progress with regard to KCCs on the ENSURE portal.
We request you to widely publicise the scheme in your bank and take advantage of concessional finance. We advise you to be in touch with our Regional Offices for further guidance and information on the subject.