Read the following information carefully and answer the question given below :
Following are the conditions for granting advance of Rs 15 lakh to the farmers for purchasing a tractor by a Gramin Bank. The farmer must :
I. have atleast six acres of cultivate land
II. not be more than 49 years as on 2.12.2013.
III. be able to produce collateral of atleast Rs 10 lakh.
IV. not have any outstanding unpaid loan from any bank.
V. be able to produce recommendation letter from the Panchayat Pradhan
In case of farmer who satisfies all other criteria except.
at (I) above, but is able to cultivate more than one crop in each piece of land, the case is to be referred to chairman of the bank.
Mohan was born on 2 Feb, 1980. He has seven acres of cultivate land. He has submitted a recommendation letter issued by the Panchayat Pradhan. He can pledge collateral of more than Rs 10 lakh. He does not have any unpaid loan from the bank.
Held on 19 Jun 2023 · Verified 13 Jul 2026.
If the advance is to be granted
If the advance is not be granted
If the data provided is not adequate, to take a decision.
If the case is to be referred to the Chairman of the bank
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