Objective
To provide crop loan facilities at the grassroots level through a 3-tier cooperative credit structure: MStCB → DCCB → PACS.
Limit
The Short-Term (SAO) Refinance facility is extended under the NABARD Refinance Scheme. NABARD issues an annual policy circular for the sanction of ST (SAO) Refinance to State Cooperative Banks (SCBs). For FY 2024–2025, the applicable policy is NABARD Circular No. 194 dated 23 September 2024.
Security
Pronotes (promissory notes) issued by PACS and endorsed by the DCCB in favour of MStCB.
Tenure
One year
Rate of Interest
As per prevailing interest rates.
Interest Rebate
If the DCCB maintains a minimum 50% CRR (Cash Reserve Ratio) with MStCB, an interest rebate of 0.50% will be refunded by MStCB.
Sir Vithaldas Thackersey Memorial Building,9, Maharashtra Chamber of Commerce Lane, Fort, Mumbai - 400001.
