The intending borrower is advised to visit the nearest MCB Branch for information. This will enable him to discuss his / her requirements and have first-hand information on every aspect of the process through face to face interaction with Agriculture Marketing Officer (AMO), Credit Officer or Branch Manager.
Bank shall consider only those credit proposals for financing which qualify. However, as a general rule, bank will always obtain adequate security / collateral, in accordance with sound and prudent banking practice, detailed as under.
The property offered as security outside the Pass Book will be valued by bank’s approved evaluators. Branch Manager / officer personally visits the Agriculture land / property before accepting the same as security. The Market Value / FSV (Forced sale value) of agriculture land or rural/urban property shall also be assessed by Branch Manager / AMM / AMO as independent inquiries to ensure that market price is realistic and not exaggerated.
Market value of Agriculture land may be accepted (calculated by revenue department) taking three years average “Baiy” of same locality.
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