AIF Scheme: Good news for farmer brothers! Get loan up to Rs 2 crore under this scheme, know the complete process

AIF Scheme: In an effort to boost farmers’ incomes and advance the agricultural industry, the national government has started a number of programmes to assist farmers nationwide. Farmers may readily profit from these programmes, and they don’t need to complete a lot of difficult paperwork to do so. The Ministry of Agriculture and Farmers Welfare developed the Agriculture Infrastructure Fund Scheme (AIF), one of the most significant of these programmes. This programme enables farmers to enhance their agricultural infrastructure by providing them with low-interest loans up to Rs 2 crore.

Farmers may save up to Rs 6 lakh a year under the Agriculture Infrastructure Fund Scheme. This programme gives farmers the tools and resources they need to handle their crops more effectively after harvest. Tell us more about this programme’s goals, advantages, application procedure, and necessary paperwork.

Agriculture Infrastructure Fund Scheme (AIF): What is it?

The Ministry of Agriculture and Farmers Welfare created the Agriculture Infrastructure Fund Scheme to support farmers and advance the agricultural industry. The program’s objective is to provide farmers access to agricultural infrastructure, including ripening rooms, silos, cold storage, warehouses, packing units, testing/grading facilities, and logistical facilities. In addition, this programme provides farmers with improved post-harvest management and storage facilities, preventing crop loss and enabling timely and equitable sales of their goods.

Advantages of the AIF Plan:

• Low-cost loan: Farmers may get loans up to Rs 2 crore under this initiative, with a very low interest rate of 4%. Farmers may use this to upgrade the infrastructure associated with agriculture.
• Interest rate discount: Under this programme, farmers get a 3% interest rate reduction for a maximum of seven years. This implies that farmers who take out loans up to Rs 2 crore may save up to Rs 6 lakh a year.
• Government security: Since the government itself provides security for the loan, no security is required on it. This also simplifies the loan application process for farmers.
• Improved crop management: Farmers get cold storage, a warehouse, and other essential facilities under this programme, which lowers crop waste and ensures that farmers receive a fair price at the appropriate time.
• Revenue growth: Farmers may boost their revenue and prevent losses by selling their crops on time and storing them well.

Who is eligible for the AIF scheme’s benefits?

The Agriculture Infrastructure Fund Scheme is available to all farmers nationwide. In addition, the following additional institutions and organisations are eligible to profit from this scheme:

FPOs, or Farmer Producer Organisations

• Agribusiness Owners
• SHGs, or self-help groups
• Federation of Farmers’ Associations
• Committees for Agricultural Marketing
• Cooperative Societies with Multiple Uses
• Startups in the agricultural industry

Farmers or agricultural institutes situated anywhere in the nation are eligible to receive the advantages of this programme, which has no age or geographical restrictions.

Required documents for the AIF scheme:

Farmers need to have some common papers in order to profit from this scheme:

• Application form: You must first complete the application.
• Passport-size photo: The application will need two passport-sized pictures.
• Identity proof: It is necessary to have identification such as a passport, driver’s licence, voter ID card, or Aadhar card.
• Proof of address: A voter ID card, driver’s licence, or Aadhar card are examples of proof of address.
• Comprehensive Project Report (DPR): You must draft a comprehensive project report that includes all of the details of your agricultural activity.
• Ownership Certificate: You must provide the certificate of ownership for any property you possess.
• Title Investigation Report (TIR), under the directives of the bank: You will also need to submit the title investigation report in accordance with the bank’s requirements.
• Other Documents: You must also provide any other documents that the plan requires.

How to Apply for the AIF Scheme:

• Online Application: You must first click the link to apply. The application procedure for the government programme is made simpler by this website.
• Verification Process: The Ministry of Agriculture will review your information within two days of your application.
• Contact Bank: In order to proceed with the next step after verification, you must get in touch with your bank.
• Automatic Process: The bank you choose will automatically receive your application.
• Bank Verification: You will get all of the information on your phone after bank verification.
• Loan approval: The bank will finish processing your loan and approve it within 60 days of your application.

Farmers have a fantastic chance to improve their agricultural infrastructure and boost their revenue under the Agriculture Infrastructure Fund Scheme (AIF). By using this programme, farmers may improve crop management, cut down on crop waste, and sell their product on schedule and at the proper price.