Regulatory Alerts2015-03-23 | 6/2Added · Updated
On Amendments and Additions to the Regulation on the Procedure for Issuing Microcredits by Commercial Banks to Personal Subsidiary Farms for Agricultural Production
This document introduces amendments and additions to the Regulation on the procedure for issuing microcredits by commercial banks to personal subsidiary farms. It expands the scope of microcredits to include raising livestock, developing poultry and beekeeping, organizing compact greenhouses, and for seeds and seedlings. The maximum microcredit amount is increased to up to 100 times the minimum wage, and repayment terms and grace periods are revised for different purposes. Additionally, it allows borrowers to submit microcredit applications electronically and details the process for application registration and issuing acceptance certificates.
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