Project Report For NHB Loan
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What Is NHB Loan?
As a sub-scheme of the Mission for Integrated Development of Horticulture, the National Horticulture Board executes programmes (MIDH). NHB will also house the national level TSGs, including NHM and NBM, under MIDH and provide administrative, logistical, and human support for their implementation. The National Horticulture Board reduced the previous ‘2-stage IPA Process (Pre-IPA & IPA)’ to a ‘Single-stage IPA Process to improve ‘ease of business’ when implementing NHB Schemes. As a result, the IPA Scheme for 2020-2021 is now open, and online applications in the specified format for its credit-linked back-ended subsidy programmes on Commercial Horticulture, Post-harvest Management including Primary Processing, and Cold Storage for the year 2020-2021 are being accepted.
However, given the restricted budget, the present level of State-wise pendency, the flow of applications, and other factors, the Board has the right to stop accepting applications for a scheme or component thereof at any time on an all-India or selective-state basis.
NHB Loan Details
On December 26, 2008, the Ministry of Housing and Urban Poverty Alleviation (MHUPA), Government of India, established the Interest Subsidy Scheme for Housing the Urban Poor (ISHUP) Scheme to increase the affordability of housing loans by segment in urban areas.
Under the Scheme, the Primary Lending Institutions pay an interest subsidy of 5% per annum for the whole period of the loan (15 – 20 years) to EWS/LIG borrowers on loans up to 1.00 lakh (PLIs). The maximum loan amount for an EWS individual was 1.00 lakh, and the maximum loan amount for a LIG individual was 1.60 lakh.
NHB Loan Eligibility
The concerned FI/Bank must submit a final subsidy claim in the required format II-B as soon as the project is completed and the entire term loan is disbursed.
A Joint Inspection Team (JIT) comprised of representatives from the bank, the NHB, the State Horticulture/Agriculture Department, and an expert (in the case of the Cold Storage and Ripening Unit) would undertake a joint inspection of the project to settle the final subsidy claim.
Banks and financial institutions must guarantee that claims are lodged within the stipulated time limit of 18 months from the date of release of the first instalment of a term loan.
The final sum will be established based on the findings of the Joint Inspection Team and the approval of the relevant NHB committee.
Documents Needed For NHB Loan
- Upon release of at least 50% amount of term loan by the bank to the promoter, the concerned FI/Bank which has provided credit for the project shall submit subsidy claim to NHB in prescribed Format II-A with the following documents:
- Financial appraisal report of the bank
- Term loan sanctioned letter issued by the bank with detailed terms and conditions.
- Term loan disbursement statement.
- Undertaking in Format-IV.
- Release of at least 50% of term loan into project Bank loan account.
