Key Highlights of the Scheme

• Loan Amount: ₹49,000/- to ₹79,000/- per acre
• Interest Rate: 11% to 12.75% (subject to change)
• Purpose: To support sericulture farming activities in irrigated areas

This scheme ensures that farmers have access to the necessary funds to invest in sericulture, such as purchasing mulberry saplings, silkworm eggs, or setting up rearing sheds. By promoting sericulture, the government aims to enhance rural livelihoods and contribute to the state’s silk production industry.

Who Can Apply?

To be eligible for this scheme, applicants must meet the following criteria;

1. Residency: The applicant must be a resident of Tamil Nadu.
2. Occupation: The applicant should be an active farmer.
3. Activity: Engaged in sericulture farming within irrigated areas.
4. Intention: Willing to utilize the loan exclusively for sericulture-related activities.

How to Apply?

The application process is straightforward and can be completed offline. Follow these steps;

1. Collect the Application Form: Visit the nearest Primary Cooperative Agriculture and Rural Development Bank office and contact the Secretary or Special Officer to obtain the application form.
2. Fill Out the Form: Carefully fill in all mandatory fields in the application form. Attach a passport-sized photograph (signed across, if required).
3. Attach Documents: Self-attest copies of all required documents, including identity proof, address proof, and proof of involvement in sericulture activities.
4. Submit the Application: Submit the completed application form along with the attached documents to the concerned authority.
5. Get Acknowledgment: Request a receipt or acknowledgment slip containing essential details such as the submission date, time, and unique identification number (if applicable).

List of Required Documents

• Identity Proof: Aadhaar card, PAN card, or any government-issued ID.
• Address Proof: Aadhaar card, voter ID, or utility bills.
• Proof of Involvement in Sericulture: Certificate or document validating your engagement in sericulture activities (if required).
• Other Documents: Any additional documents specified by the bank.

Benefits of the Scheme

• Financial Support: Access to loans ranging from ₹49,000/- to ₹79,000/- per acre.
• Affordable Interest Rates: Competitive interest rates starting at 11%.
• Empowerment: Encourages sustainable farming practices and boosts rural economies.
• Simplified Process: Easy-to-follow offline application process.

Frequently Asked Questions (FAQs)

Q1. What is sericulture?

• Sericulture is the practice of rearing silkworms to produce silk. It involves cultivating mulberry plants for silkworm feed and managing the lifecycle of silkworms to harvest raw silk.

Q2. Is this scheme available for farmers outside Tamil Nadu?

• No, this scheme is exclusively for residents of Tamil Nadu who are actively involved in sericulture farming.

Q3. Can I use the loan for other agricultural purposes?

• No, the loan must be used specifically for sericulture-related activities. Misuse of funds may lead to penalties or legal action.

Q4. How long does it take to process the loan application?

• The processing time may vary depending on the bank and the completeness of the submitted documents. Applicants are advised to follow up with the concerned authority for updates.

Q5. What happens if I fail to repay the loan on time?

• Failure to repay the loan on time may result in additional interest charges or impact your credit score. It is recommended to adhere to the repayment schedule.

Q6. Are there any subsidies available under this scheme?

• While the scheme primarily focuses on providing loans, beneficiaries may explore additional subsidies or incentives offered by the state government for sericulture farmers.

Conclusion

The Primary Cooperative Agriculture and Rural Development Bank’s scheme for sericulture in irrigated areas is a significant step toward empowering farmers in Tamil Nadu. By providing financial assistance and promoting sustainable agricultural practices, the scheme not only supports individual farmers but also contributes to the broader goal of enhancing the state’s silk production capabilities.

If you are a farmer engaged in sericulture and looking to expand your operations, this scheme offers a valuable opportunity to secure funding and grow your business. Don’t miss out—apply today!

Sources and References

• Guidelines issued by the Co-operation, Food and Consumer Protection Department, Tamil Nadu.
• Official website of the Primary Cooperative Agriculture and Rural Development Bank.

For more information, visit the official website or contact your nearest bank branch.