Procedure to be followed for purchase of Pump under NABARD subsidy scheme:

 

• "Farmer" will take "quotation" from us

• "Farmer" would “apply” for “Term Loan” in "Branch” of a “Bank" located within 50 km from his “farm”, with all the required document, as per banking rules and "Quotation" taken from us

• “Bank” will process the “Loan Application” and after satisfying all the norms, as per banking rule, bank will “sanctions loan” and tell farmer to open "loan account" in the “branch” of the “bank”

• “Farmer” will deposit his contribution, i.e. "margin money" in the "loan account"

• Bank will issue the work order to us for installation of “Solar Water Pumping System”. We will install the "Solar Water Pumping System" and submit the declaration to Bank in prescribed format

• Bank will carry out inspection and after finding that installation is in order, bank will releases payment to us.

• Bank will apply for subsidy from NABARD - Regional Office, in prescribed format

• NABARD - Regional Office will release subsidy to controlling office / nodal branch through RTGS

• Bank will transfer the subsidy amount to the concerned branch

• Branch will keep the "subsidy" in "subsidy reserve fund account" of the "Farmer"

• No interest is charged on the subsidy portion of loan amount

• Bank submits Utilization Certificate to NABARD

• Farmer repay the loan taken in installment along with the interest

• Farmer clears the loan

• Loan account is closed

 

1) The offer for supply of "3 HP Solar Water Pump" under "NABARD Subsidy Scheme"

• Cost of supply (this includes pump + pump pipe + pump wiring + pump fitting + solar system / installation / commissioning / 5 years onsite comprehensive maintenance contract) : Rs 4,15,000/-

• Subsidy: Rs 1,29,600/-

• Payment to be deposited as a "Margin Money" in the "Loan Account" of the "Bank" : Rs 83,000/-

• Re - payment (in 3 years to 10 years time period) to be made by Installment in the "Loan Account" : Rs 2,02,400/- plus interest

• "Free" onsite - warranty, onsite - service, onsite - spares for "5 years"

 

2) The offer for supply of "5 HP Solar Water Pump" under "NABARD Subsidy Scheme"

• Cost of supply (this includes pump + pump pipe + pump wiring + pump fitting + solar system / installation / commissioning / 5 years onsite comprehensive maintenance contract) : Rs 6,10,000/-

• Subsidy: Rs 2,16,000/-

• Payment to be deposited as a "Margin Money" in the "Loan Account" of the "Bank" : Rs 1,22,000/-

• Re - payment (in 3 years to 10 years time period) to be made by Installment in the "Loan Account" : Rs 2,72,000/- plus interest

• "Free" onsite - warranty, onsite - service, onsite - spares for "5 years"

 

3) The offer for supply of "7.5 HP Solar Water Pump" under "NABARD Subsidy Scheme"

• Cost of supply (this includes pump + pump pipe + pump wiring + pump fitting + solar system) / installation / commissioning / 5 years onsite comprehensive maintenance contract) : Rs 7,50,000/-

• Subsidy: Rs 1,94,000/-

• Payment to be deposited as a "Margin Money" in the "Loan Account" of the "Bank" : Rs 1,50,000/-

• Re - payment (in 3 years to 10 years time period) to be made by Installment in the "Loan Account" : Rs 4,06,000/- plus interest

• "Free" onsite - warranty, onsite - service, onsite - spares for "5 years"

 

4) The offer for supply of "10 HP Solar Water Pump" under "NABARD Subsidy Scheme"

• Cost of supply (this includes pump + pump pipe + pump wiring + pump fitting + solar system) / installation / commissioning / 5 years onsite comprehensive maintenance contract) : Rs 10,00,000/-

• Subsidy: Rs 1,94,000/-

• Payment to be deposited as a "Margin Money" in the "Loan Account" of the "Bank" : Rs 2,00,000/-

• Re - payment (in 3 years to 10 years time period) to be made by Installment in the "Loan Account" : Rs 6,06,000/- plus interest

• "Free" onsite - warranty, onsite - service, onsite - spares for "5 years"

 

5) The offer for supply of "12.5 HP Solar Water Pump" under "NABARD Subsidy Scheme"

• Cost of supply (this includes pump + pump pipe + pump wiring + pump fitting + solar system) / installation / commissioning / 5 years onsite comprehensive maintenance contract) : Rs 12,50,000/-

• Subsidy: Rs 1,94,000/-

• Payment to be deposited as a "Margin Money" in the "Loan Account" of the "Bank" : Rs 2,50,000/-

• Re - payment (in 3 years to 10 years time period) to be made by Installment in the "Loan Account" : Rs 8,06,000/- plus interest

• "Free" onsite - warranty, onsite - service, onsite - spares for "5 years"

 

 

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