Sarkari Yojana
Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area)
About Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area)
Run by the Agriculture, Farmers Welfare and Cooperation Department, Gujarat, the “Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area)” scheme supports sugar cooperative societies that borrowed money to clear sugarcane arrears for the 2018-19 season by subsidising the interest on those loans. For the first 1 year counted from the date the loan is withdrawn, the interest subsidy is borne by the central government. After that, the state government takes over and keeps paying the subsidy for no more than 4 years, at either the actual interest or 7%, whichever is lower.
Scheme Details
Eligibility Requirements
To qualify for Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area), applicants must satisfy the following conditions:
This scheme is open to Sugar Co-operative…
This scheme is open to Sugar Co-operative Societies that took a loan to settle sugarcane arrears for the year 2018-19 against the respective sugarcane prices.
Benefits Provided
Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area) provides the following benefits to eligible applicants:
Name of the Component:
Interest Subvention against long terms loan to the Co-operative sugar societies.
Standard of Assistance (State Government):
The state pays the lower of the interest actually paid on the bank loan raised by the Sugar Cooperative or 7%, for at most 4 (four) years or until the interest concession on loan repayment ends, whichever comes first. Put another way, the State Government's subvention covers the interest actually payable or 7 percent, whichever is less, for a maximum period of 4 (four) years or till the loan repayment, whichever is earlier.
Standard of Assistance (Government of India):
The Government of India pays 1 year of interest subvention, starting from the date this loan is withdrawn, on the bank loan amount taken by the State Sugar Co-operative Societies for affiliated purposes under the announced soft loan interest subvention scheme for loans obtained to pay sugarcane arrears for the year 2018-19 at the respective sugarcane prices.
Minimum Time Limit (in Years) for Reclaiming Benefits:
No value is specified.
Documents Required
Applicants should keep the following documents ready before starting the application:
Sanction letter for the loan, issued by the…
Sanction letter for the loan, issued by the bank.
Evidence that the loan was used to pay…
Evidence that the loan was used to pay sugarcane arrears.
The Government of India's FRP notification (02/03/2019)
The Government of India's FRP notification (02/03/2019).
Audit reports prepared for the sugar cooperative society
Audit reports prepared for the sugar cooperative society.
Bank statements along with the loan repayment schedule
Bank statements along with the loan repayment schedule.
Other documents, if asked for
Other documents, if asked for.
How to Apply
Offline Application
Applicants can apply for Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area) through the offline application process outlined below.
Application Process
Eligible sugar co-operative societies must route their proposal through the District Registrar of their district, who forwards it to the Director of Sugar, Gujarat State, Gandhinagar.
Office Address and Contact Details of District Registrar:
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Office Address and Contact Details of Director Of Sugar:
Director of sugar
Address:
Dr.Jivraj Mehta bhavan, Block No.8 ,2nd floor, Gandhinagar
Phone:
232-53437
Email Us:
directorsugarat]gmaildot]com
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.