Cash Credit Limits:
As part of financial support to DCCBs, TNSC Bank, upto 31.03.2024 has sanctioned Cash credit limits to DCCBs for Non-agricultural purposes to the tune of Rs.8010 Crore. The total outstanding under the above cash credit accounts as on 31.03.2024 amounted to Rs.3009.20 Crores.
Financing of Sugar Mills – Cash credit limits to DCCBs
For the Sugar season 2022-23, TNSC Bank has sanctioned Cash credit limits to Sugar mills under consortium finance for working capital purpose to the tune of Rs.253.27 and the outstanding as on 31.03.2024 was Rs.83.83 Crore. The sugar mills have under-utilized the limit due to instant sale of sugar produced and the ways and means support from the State Government.
Short Term Loan issued to Tamil Nadu Civil Supplies Corporation
To meet the working capital requirement of TNCSC and for the procurement of Paddy, we have sanctioned Rs.700.00 Crore to Civil Supplies in anticipation of State Govt Guarantee.
PACCS as MSC (AIF):
PACCS as MSC is the Government of India scheme to convert PACCS as Multi service centres by availing loan under Agriculture Infrastructure Fund created by GOI at interest rate of 4% p.a. for developing Post Harvest Infrastructure. Each PACCS can avail loan under this scheme upto Rs.2.00 crores without collateral. Interest Subvention is available to PACCS @ 3% p.a. for prompt repayment.
Loan repayment period is 7 years and also the PACCS can claim Grant of 10% of the loan amount or 2 Lakhs whichever is less.
As on 31.03.2024, TNSC Bank sanctioned refinance to the tune of Rs.279.21 crores to DCCBs for 3721 projects.