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Mahesh

21/07/23 06:42 AM IST

First ever “Credit Guarantee Scheme” for Livestock Sector

In News
  • Department of Animal Husbandry & Dairying (DAHD) under the Ministry of Fisheries, Animal Husbandry and Dairying recently announced the launch of a new credit guarantee scheme.
About the scheme
  • The scheme aims to strengthen the credit delivery system and ensure smooth access to finance for entrepreneurs engaged in the Livestock sector.
  • The main objective is to encourage lenders to focus on the viability of projects and provide credit facilities based on the primary security of the assets being financed.
  • By providing access to financial assistance, it promotes investments in various areas of the livestock sector, such as dairy and meat processing, animal feed plants, breed improvement technology, waste management, and veterinary vaccine and drug manufacturing facilities.
  • With this scheme, the participation of MSMEs in the Livestock sector is expected to increase, leading to improved credit flow and bolstering the overall rural economy.
  • One of the key features of the AHIDF scheme is the establishment of a Credit Guarantee Fund Trust of Rs. 750.00 Crores.
  • DAHD has formed a trust with NABSanrakshan Trustee Company Private Limited, a wholly owned subsidiary of NABARD for the establishment of a Credit Guarantee Fund Trust for extending the credit guarantee to Micro, Small & Medium Enterprises under AHIDF scheme.
Key Features of AHIDF scheme
  • Interest Subvention of 3%
  • loan up to 90% of the total project cost from any Scheduled Bank, National Cooperative Development Corporation (NCDC).
Source- PIB

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