Bank of Maharashtra Introduces Maha Krishi Samrudhi Yojana

Current Context: The Bank of Maharashtra introduced the Maha Krishi Samrudhi Yojana (MKSY) on 28th May 2024.

Target Group: The scheme is aimed at Food and Agro-Based industries & Agri Infrastructure Projects including Startups.
Eligibility: The scheme is open to Individuals, Proprietorship, Partnership Concern, FPCs, Private Limited Companies, Public Limited Companies, and Limited Liability Partnership concern.
Purpose: The scheme is designed to finance new projects or the expansion of existing units. This includes the acquisition/construction of Land and Building and Plant and machinery based on the project cost.
Type of Facilities: The scheme offers Term loan, Working Capital / Export Credit like Pre-Shipment and Post Shipment / Bill purchase / Bill discounting etc, LCs, BGs.
Quantum: The minimum loan amount is not specified, but the maximum loan amount can go up to Rs. 100.00 Crore.
Margin: For Term Loan, it’s minimum 10 to 25% (case to case basis) and for Working Capital, it’s minimum 25%.
Repayment: The maximum period for Term Loan repayment is up to 10 Years (Including Moratorium Period). Working Capital is repayable on demand.
Processing Fee: There is a concession in processing fee for borrowers/units with CIBIL MSME rank CMR-1 to CMR- 2.

Question:

1. Who is the target group for the Maha Krishi Samrudhi Yojana (MKSY)?

A) Urban Real Estate Developers
B) Retail Traders
C) IT and Software Companies
D) Food and Agro-Based industries & Agri Infrastructure Projects including Startups