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  • 2016 Paper - Letter by Bank Manager

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    RealRacer
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    The bank manager approved a loan of Rs. 15 lakhs to Kisan Chavan to buy a tractor for the upcoming kharif crop sowing season. The loan will be credited directly to Chavan's account and must be repaid over 10 years with an interest rate of 6% per year and a 2% subsidy for prompt biannual payments. A 2-year grace period is also provided beyond the 10-year repayment period.

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    letter by bank manager nabard prep

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    2016 Paper- Letter by Bank Manager

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    The bank manager approved a loan of Rs. 15 lakhs to Kisan Chavan to buy a tractor for the upcoming kharif crop sowing season. The loan will be credited directly to Chavan's account and must be repaid over 10 years with an interest rate of 6% per year and a 2% subsidy for prompt biannual payments. A 2-year grace period is also provided beyond the 10-year repayment period.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    8 views1 page

    2016 Paper - Letter by Bank Manager

    Uploaded by

    RealRacer
    The bank manager approved a loan of Rs. 15 lakhs to Kisan Chavan to buy a tractor for the upcoming kharif crop sowing season. The loan will be credited directly to Chavan's account and must be repaid over 10 years with an interest rate of 6% per year and a 2% subsidy for prompt biannual payments. A 2-year grace period is also provided beyond the 10-year repayment period.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    As the Manager of a Rural Bank look into the application for a loan of Rs.

    15 lakhs
    for buying a tractor. Grant the loan while listing the rules.

    A B C,
    Manager, Maharashtra Gramin Bank,
    Arni – 445-103

    13th March, 2018

    Kisan Chavan,
    51, Gurudev Colony,
    Jawala

    Hello,

    This is in reference to your application of loan of Rs. 15 lakhs for buying a tractor
    ahead of sowing season of kharif crops. After looking into your credit history the
    bank has decided to grant you the required loan under farm mechanization plans of
    Government of India.
    The loan will be directly credited to your bank account with us and it will have
    repayment period of 10 years. Terms and conditions of the loan will be as follow:
    1. Rate of interest 6% per annum on simple interest basis
    2. Subvention of 2% in case prompt half yearly payment
    3. Grace period of 2 years above 10 years
    Please reach out to bank branch in case you need any other help.

    Thanking you,
    ABC

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