SBI Arthias Plus provides financing commission agents against their receivables from farmers.
Eligibility (under Agriculture segment): Commission agents enjoying good reputation and holding a valid license from the market yard/ board and are in the line of business for the past 3 years, having receivables from farmers only, functioning in rural and semi urban markets/mandis.
Facility: Cash credit (Hypothecation of book debts not older than 6 months) Classification: Priority sector - Agricultural segment - indirect Agri Finance.
Limit: Max. Rs. 50 Lacs Margin: 40%
Security: Primary: Hypothecation of receivables & movable assets (if any).
Collateral: Equitable Mortgage of Resi / Comm. Property (Non-Agri) with worth 1.5 times of the advance (Upto Rs. 25 lacs ); 2 times of the advance value (Above Rs 25 lacs and upto Rs. 50 lacs).
Interest: (a). Upto Rs. 10 lacs: SBAR (b) Above Rs 10 lacs and upto Rs. 25 lacs : 0.25 % above SBAR. Above Rs. 25 lacs and upto Rs. 50 lacs: As per CRA Model.
Repayment: Maximum Six months. Loan should be liquidated at the end of cropping season with reasonable time for marketing.
# Loans to commission Agents financed by SBI's Urban & Metro branches: Loans upto Rs. 10 lakhs - SBF Segment. Loans above Rs 10 lakhs - C & I Segment.