National Agriculture Infra Financing/AIF Facility: We are obliged to inform all the farmers and manufacturing companies that the govt has started the Agri Infra Finance Scheme. The objective of the AIF Scheme is to provide better infrastructure to the farmers for better productivity. The govt will accept online applications for the AIF Scheme through the AIF Registration Portal. Review the below page for complete details of the AIF Scheme.
Agriculture Infra Financing Scheme 2024
The AIF Scheemm has started to provide better infrastructure to farmers and manufacturing companies. The govt will provide a loan of up to Rs 2 Crores with an interest rate of 3%.
Benefits of AIF Scheme
The AIF scheme is launched to keep in mind the benefits of all of the stakeholders in the Agriculture Eco-system. We are going to discuss the benefits of all of them one by one.
1. Benefits to Farmers, FPOs, PACS, Marketing Cooperative Societies, Multipurpose cooperative societies:
Farmers can now have improved infrastructure to sell their products directly to market/consumers, which will increase the income of farmers. Farmers can community farming assets to improve productivity with the help of loan money. The infrastructure in which farmers can invest in
- Marketing Infrastructure
- Logistics Infrastructure
- Modern packaging, and cold storage system
2. Benift of Government
- Govt will be able to do priority sector lending and hence increase the private sector investment in agriculture.
- The govt will manage to reduce the national food wastage percentage and the agriculture sector can be in a race at global levels.
- Central or State Govt Agencies or local bodies will come forward for the investment.
3. Benift of Agri entrepreneurs and startups
- When entrepreneurs have sufficient fudging, they can implement technologies like IoT and AI in the agriculture fields for improved productivity.
- The AIF scheme will improve the collaboration between entrepreneurs and farmers.
4. Benefits of Banking ecosystem
- The customer base of banks will become larger with low risk.
- A refinance facility will also be there for the RRB and other banks.
5. Benefits of Consumers
- The larger share of produce running the market. It will lead to better quality and lower prices.
The AIF scheme has benefits for all the players in the ecosystem, every one will benefit from the scheme.
Eligibility for the AIF Scheme
- All the farmers are aged more than 18 years.
- All manufacturing companies can apply for the AIF Scheme.
Documents Required for AIF Scheme
- The application form of the bank to apply for a loan
- Photo of the person who is applying for the AIF fund
- Identity Proof such as Aadhar Card, Voter Card, PAN Card, etc.
- Address Proof like Ration Cards, Electricity Bills, and the Address of the Officer in case companies are applying for loans.
- Income Tax Return Copy
- GST Dociemnts if applicable
- and other documents
How to Apply For the AIF Fund Scheme
We have explained the step-by-step process to register for the AIF fund scheme online, follow the steps given below.
- Visit the official portal of AIF https://agriinfra.dac.gov.in/.
- Then, proceed to the Beneficiary Corner tab on the home page of the AIF website.
- Now, choose the option of Beneficiary Registration.
- You will see the blank form for the AIF find, write all the details in the AIF form like your name, identity proof, etc.
- Verify the OTP.
- And provide all other details asked in the AIF form.
- In the end, submit the AIF form along with the documents soft copy.
Conclusion
The govt has launched the AIF find scheme for every key player in the Agriculture ecosystem. Farmers, companies, banks, govt everyone benefits from the AIF scheme. It will increase the farming infrastructure in India and agriculture will be seen in competition with the global market.