Page 79 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) 23062 COPY.indd

BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
th
nd
revolving cash credit limit. Repayment is fixed fisheries sector. The figure below details out the
based on the cash flow/income generation estimated investment under PMMSY:
pattern of the activity commenced by the
borrower.
Monitoring of end use: The account/smart
card for the loan issued under the scheme is
to be maintained/issued separately from the
existing KCC loan to monitor the utilization
limit. The monitoring of end use of funds will
be in line with other loans (KCC on crop loans
included) viz., field visits to the site of unit/
project to be carried out by the branch officials
for checking the progress of the unit. Banks
will review intermittently all the facility and Conclusion:
continue/withdraw/scale down the facility
depends on the presentation and performance Under PMMSY several Matsya Seva Kendras
of the borrower. - One-Stop Shop Extension Centres are
established to further Strengthen the potential
Prudential norms: The extant asset of ‘Inland Fisheries’ in an efficient manner.
classification, prudential norms on income These centres are run by Local Beneficiaries to
recognition, and provisioning on allied serve the Fishers and Fish Farmers for all their
activities will be applicable. fisheries needs.

Rate of Interest: The rate of interest will be as For aquatic animal health management- 2
stipulated in DBR’s Master Direction – Reserve Aquatic Referral Laboratories in Bihar, 1
Bank of India (Interest Rate on Advances) Disease Diagnostic Laboratory in Delhi and 4
Directions, 2016. Disease Diagnostic and Quality Testing Mobile
Laboratories in Uttar Pradesh along with
All the remaining guidelines are mentioned
numerous fish kiosks, ice plant / cold storages,
in “Kisan Credit Card Scheme” for Short fish feed mill / plants, fish transportation
Term Crop Loans will be Applicable Mutatis
facilities, enterprise units have been sanctioned.
Mutandis.
Additionally, many community outreach
Other Government Sponsored Scheme in activities such as training programs, World
Aquaculture: Fisheries Day, fish festivals etc have been
Under the Atmanirbhar Bharat COVID-19 relief organised by NFDB in collaboration with the
package, in May 2020 the Government of India States/UTs, ICAR fisheries Institutes.
has approved a flagship scheme called Pradhan
Under the KCC (Kisan Credit Card) Scheme,
Mantri Matsya Sampada Yojana (PMMSY) by timely and adequate credit support is provided
recognizing the potential and importance of the
by the Banking System, to the farmers for their
Fisheries Sector. The scheme is launched with a agricultural needs through a simplified single
vision to bring about “Blue Revolution” through window procedure. The credit is provided to
sustainable and responsible development of
meet the agricultural need in respect of

The Institute Of Cost Accountants Of India

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