Here is the good news for the agricultural sector. The Punjab National Bank (PNB), which is the second largest public sector bank in India, provides short-term loans under its agricultural credit schemes. PNB offers instant loan facilities under various schemes where the loans are offered without any collateral or collateral.
SHG Covid ‘Covid Tatkal Sahayata Rin’
Under the “Covid Tatkal Sahayata Rin” program, financial assistance will be provided to individual members of the self-help group so that they can meet their immediate needs. The program was designed amid the covid-19 lockdown. Small and poor members who want to support themselves in a time when economic activity has stopped can benefit from the “Covid Tatkal Sahayata Rin” program. The government has also made sector-specific relaxations.
PNB bank assists individual members of SHG with loan amount ranging from Rs 5000 to Rs 1 lakh. For this loan, the bank gave a repayment period of 3 years. In addition to this, there is no margin or service charge or collateral for this loan. However, a limitation is that this loan is only granted to existing PNB customers.
PNB Kisan Tatkal Rin Yojana
Secondly, the proposed PNB program is PNB Kisan Tatkal Rin Yojana. The program was designed to provide financial assistance to farmers to meet their emergency farming needs and household needs to overcome temporary hardship.
The loan limit for PNB Kisan Tatkal Rin Yojana is up to Rs 50000 with easy payment options. The person who takes out the loan can repay it within 3 years.
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