loading live map...hang in there
CLOSE
Eligibility of Farmers to Get Loan for Agricultural Land Purchase in Ludhiana
27 Dec 2018
Description

Agriculture is one of the most crucial sectors of India; Indian farmers contribute to a large part of the country's population. It is important to offer the entire required infrastructure and other facilities to the farmers to produce the food for the population of the country. Farmers avail agricultural loans to accomplish all the necessary requirements for a good and healthy farming. Agricultural loans can be availed by the farmers to fulfil their needs of better equipment, land for agriculture, animal farming, pisciculture etc. Many organizations and financial institutes offer loan for agricultural land purchase in Ludhiana. These organizations also offer loans to farmers to perform seasonal activities such as ploughing, preparing land for sowing, weeding, transplantation, buying fertilizers, insecticides, seeds etc. Farmers need money to introduce labour for harvesting and cultivating the crops.

Along with the purchase of agricultural land, buying of agricultural tools, transport and storage of the production are also included in the agricultural loan applications. The Indian government take substantial measures to increase the credit flow for better production and productivity. Banks and financial organizations provide term loans to the farmers for the purpose of investment and short-term loans for the purpose of production.

Banks offer loans to farmers to expand their activities, to make small and marginal units economically viable, expansion of their present and existing activities, to bring fallow lands and to cultivate the waste land.

Documentation required for getting a loan for agricultural land purchase in Ludhiana

There are many financial organizations that grant loans to the farmers for helping them in carrying out their agricultural activities. Since farmers in India are not qualified to the required literacy level, the following is the required documentation for farmers to get the agricultural loan.

  • Photo ration card, Aadhar card, Id-proof voter id card etc.
  • Ration card with residence proof.
  • Proof records of the borrower's land ownership, receipt of revenue etc.
  • Kissan credit card: This is the card that is issued to all the farmers whether small farmers or marginal farmer, share croppers, tenant farmers and oral lessees. 

Though these documents are the most common documents required by the banks the documents may vary from organization to organization.

Tags
business loan
Comments (0)