Business & Development Facilitators
Business Facilitators are intermediaries such as, NGOs/ Farmers’ Clubs, cooperatives, community based organisations, IT enabled rural outlets of corporate entities, Village Knowledge Centres, Agri Clinics/ Agri Business Centers, Krishi Vigyan Kendras and individuals like insurance agents, retired bank employees/teachers etc for providing facilitation services. Such services may include
- identification of borrowers
- collection and preliminary processing of loan applications including verification of primary information/data;
- creating awareness about products, provide advice on managing money and debt counselling;
- processing and submission of applications to NABFINS
- promotion and nurturing Self Help Groups/ Joint Liability Groups/ Producers’ groups ;
- post-sanction monitoring;
- monitoring and handholding of Self Help Groups/ Joint Liability Groups/ Credit Groups/ Producers’ groups etc.; and
- follow-up for recovery. However, they shall not engage in cash handling including disbursements, collections etc.
- identification of borrowers
Interest rates on loans
| Borrower Category | Loan Amount | Interest rate (%) | Processing fees | GST | Penal Charges | Credit Insurance |
|---|---|---|---|---|---|---|
| SHG’s | Upto Rs. 10 Lakh | 17.85% | 1% of sanctioned amount | 18.00% of processing fee | Nil | Rs 2.92 for Rs. 1000 | JLG’s | Upto Rs. 10 Lakh | 17.85% |
