Punjab & Sind Bank launches special scheme for food & agro processing units

New Delhi: Punjab & Sind Bank, a leading public sector bank committed to promoting inclusive and sustainable economic growth, has announced the launch of a specialised PSB Scheme on Financing Food & Agro Processing Units.

The new scheme aims to accelerate credit flow to the food and agro-processing, storage, and packaging sectors with highly attractive terms and conditions.

Designed to support a broad spectrum of entities, the scheme is open to Individuals, SHGs, JLGs, Proprietorships, Partnerships, LLPs, Private and Public Limited Companies, Trusts, Cooperative Societies, FPOs, and other eligible legal entities ensuring extensive coverage across the entire agro-processing ecosystem. By covering such diverse entities, the Bank aims to strengthen the backbone of India’s food processing ecosystem.

Under this specially curated scheme, Punjab & Sind Bank will provide flexible and need-based financial assistance in the form of Term Loans and Working Capital facilities. This will enable businesses to establish new units or upgrade existing operations with greater ease. The scheme brings several attractive features, such as competitive interest rates starting from 7.84%, CGTMSE coverage for loans up to Rs 10 crore, minimal collateral requirements, convenient repayment structures, and reasonable processing and other charges.

The food and agro-processing sector plays a pivotal role in generating employment, reducing post-harvest wastage, and enhancing farmers’ income. Through this comprehensive financing scheme, Punjab & Sind Bank aims to further strengthen the agri-value chain and contribute to the Government of India’s vision of developing a modern, resilient, and globally competitive food processing ecosystem.