The National Bank for Agriculture and Rural Development (NABARD) has launched the Dairy Loan 2024 scheme to promote organized dairy farming in rural India. The initiative provides low‑interest loans to unemployed rural youth, farmers, entrepreneurs, NGOs, and cooperatives for establishing modern dairy units, purchasing equipment, and related activities.
About the Scheme
The scheme aims to create self‑employment opportunities, increase milk production, and strengthen the dairy value chain. It is supported by the Department of Animal Husbandry and the Fisheries Department to ensure proper implementation across all districts.
Eligibility Criteria
Farmers, individual entrepreneurs, NGOs, companies, and organized/unorganized sector groups.
One beneficiary per family; however, multiple family members can apply if their premises are at least 500 meters apart.
Applicants must have a viable dairy project and be able to submit a project report for larger loan amounts.
Participating Financial Institutions
State Cooperative Banks
Commercial Banks
Regional Rural Banks
State Cooperative Agriculture & Rural Development Banks
Other institutions eligible for NABARD refinancing
Key Components of the Dairy Loan
1.
Small dairy unit for 10‑15 milch animals (e.g., local breeds like Lal Sindhi, Sahiwal).
2.
Calf and heifer rearing.
3.
Vermicompost and organic manure production (separate from dairy unit).
4.
Purchase of milk testing equipment and refrigeration units.
5.
Acquisition of dairy processing equipment for indigenous products.
6.
Transportation and cold‑chain infrastructure.
7.
Cold storage facilities for milk and dairy products.
Who can avail the dairy loan? Farmers, entrepreneurs, NGOs, companies, and both organized and unorganized sector groups.
Can more than one family member apply? Yes, provided their farms are at least 500 m apart.
Is there a limit on the number of applications per person? An individual can receive the benefit only once.
What documents are required? Project report (for larger loans), identity proof, address proof, land/lease documents, and bank details.
Which banks disburse the loan? State cooperative banks, commercial banks, regional rural banks, and other NABARD‑eligible institutions.
Is there a subsidy component? The scheme offers low‑interest financing; specific subsidy details are provided by the implementing bank.
How long does loan approval take? Processing time varies by bank; applicants are advised to follow up with the concerned bank.
Can the loan be used for dairy product processing? Yes, equipment for processing, packaging, and marketing is eligible.
Is there a requirement for a veterinary clinic? Establishing a private veterinary clinic is one of the optional components of the scheme.
Where can I replace the application form? The form is downloadable from the NABARD website under the Information Centre.
Conclusion
The NABARD Dairy Loan 2024 presents a valuable opportunity for rural entrepreneurs to venture into organized dairy farming with financial support at affordable rates. By meeting the eligibility criteria and following the straightforward online or offline application procedures, applicants can secure funding for setting up dairy units, acquiring modern equipment, and expanding market reach. Leverage this scheme to boost milk production, generate employment, and contribute to the growth of India’s dairy sector.
Explore more job and scheme updates at Latest Jobs, Govt Jobs, and other relevant categories.
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