Provision of Short-Term (ST) refinance by NABARD to State Cooperative Banks(StCBs) for financing Seasonal Agricultural Operations (SAO) - Policy for F.Y. 2019-20
Please refer to our Circular No.173 /DoR-52/2018 dated 06 July 2018 communicating NABARD's policy for F. Y. 2018-19 on provision of refinance under Sec. 21(1) of NABARD Act, 1981 to State Cooperative Banks (StCBs) in respect of eligible District Central Cooperative Banks (DCCBs) for financing Seasonal Agricultural Operations. We, now advise that the ST (SAO) Policy for F. Y. 2019-20 has been finalized and the details thereof are enumerated in the Annexure I.
2. The quantum of ST (SAO) refinance would continue to be linked to Net NPA level of the StCB. Further, norms which were operational during F. Y. 2018-19 would continue during F. Y. 2019-20.
3.  The rate of interest on NABARD refinance to StCBs will be 4.5% p.a. (subject to change, if any, by Govt. of India) if the Short-Term Cooperative Credit structure in the State together with their own involvement provide crop loan up to Rs.3.00 lakh per borrower / farmer at 7% p.a. or less. The Bank is required to furnish an undertaking to this effect as per Annexure II.  
4. Affiliated DCCBs may be advised to ensure implementation of KCC scheme by issuance of RuPay Card to the borrowing members. The StCB/DCCBs are also required to report the monthly progress with regard to KCCs on the ENSURE portal by 15th of the following month.
5. Refinance allocation for your bank for F. Y. 2019-20 will be communicated to you separately by our Regional Office (RO). You may submit an application for sanction of consolidated credit limit on behalf of all the eligible DCCBs alongwith the first drawal, in the prescribed proforma to NABARD RO.
6. Please acknowledge receipt of this circular to our Regional Office.