RF II – Non Formal Rural Activities

 Non-Formal Rural Activities 

  • Fund access to non-formal rural activities,
  • Base-line financing for individuals and cooperatives engaged in agriculture, livestock, forestry, fishery and other manufacturing and production activities,
  • Boosting overall rural communities and supporting rural entrepreneurs,
  • Improve living standards of rural communities.

Fund Terms and Conditions

 

Fund Size Maximum of Nu.5,00,000
Interest 4% p.a.
Collateral Not Required
Tenure Maximum of 10 years (depending on the nature of project.)
Gestation Period Maximum of 12 months (depending on the nature of project.)
Mode of Repayment Monthly/Quarterly/Half-Yearly
Repayment Source Cash flow from activities or identified repayment source
CIB Report Applicable
Guarantor Individual having good credit history with other Financial Institutions
Sector Production & Manufacturing and non-formal rural activities
Licenses and Clearances Depending on the nature of project

 

Documents to be submitted:

Category 1: Livestock Category 2: Agriculture Category 3: Weaving Category 4: Horticulture or any other project which are unable to generate income during the projected repayment tenure. Category 5: others (manufacturing & production and purchase of machineries & equipment’s)
1. REDCL Fund Application Form 1. REDCL Fund Application Form 1. REDCL Fund Application Form 1. REDCL Fund Application Form 1. REDCL Fund Application Form
2. Residency letter or the lease agreement if the proponent is leasing land to conduct business in the area other than his/her residency. 2. Residency letter or the lease agreement if the proponent is leasing land to conduct business in the area other than his/her residency. 2. Residency letter or the lease agreement if the proponent is leasing land to conduct business in the area other than his/her residency. 2. Residency letter or the lease agreement if the proponent is leasing land to conduct business in the area other than his/her residency. 2. Residency letter or the lease agreement if the proponent is leasing land to conduct business in the area other than his/her residency.
3. Technical Verification from Livestock Officer. 3. Technical Verification from Agriculture Officer. 3. Weaving Confirmation Letter from the Gup/Mangmi. 3. Technical Verification from livestock/Agriculture Officer. 3. Copies of CID card of proponent and guarantor
4. Sales Deed/Sale agreement with seal and signature of Gup. 4. Land Certificate copy for particular plot. 4. Copies of CID card of proponent and guarantor 4. Sales Deed/Sale agreement with seal and signature of Gup. 4. Two passport size photo of proponent.
5. Copies of CID card of proponent and guarantor. 5. Authorization letter and CID card copy from land owner(in case the proponent is not the land owner) 5. BDBL account number of the proponent. 5. Land Certificate copy for particular plot. 5. BDBL account number of the proponent.
6. BDBL account number of the proponent. 6. Copies of CID card of proponent and guarantor 6. Authorization letter and CID copy from land owner (in case the proponent is not the land owner) 6. Others (the additional document(s) depending on the nature of project).
7. BDBL account number of the proponent. 7. Copies of CID card of proponent and guarantor
8. BDBL account number of the proponent.
9.Income source:

  • Salary-pay slip with assurance letter by pay slip holder.
  • Dairy farming (milking cow) – concern letter from livestock officer.
  • Business- business license.
  • Taxi- Taxi operating permit (TOP) with PD license.
  • Rental-concern letter from Gup/Mangmi.

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