Image 006
Image 006
v-- Y,
;t
rare of interesr for tending
*:l t"thall 59i,
lou,er n.a nor
sha-Ll rruL at any
a( ar g:r,en poir:t ir: ume.
be
(nr
.J: an spV in future for borrowing
X,lX"l"iLf ffi:T"s from NABARD
cost in the ca-lculation
#,JX *i.-.i
"Ar;'; ;;;it!:r:ii .j;::i:TT:*:*;"rF::tr.TT
sha.ll be ;;;.*'""agement
ooi, . ".pa,"; "t
of such financing u.-..iJiI"L.lj",
!f,|ltio"" "r,uu Gor, NABARD arrd the
The cost of funcis to NABARD
in case of funds raised from
purpose of tundins tr,. tl-re market bv
i'ffffi1ftspecific ar.i".l appJicadon, wix be t-he
-i,I;
manasement cost or 0. 60%l:..
Ti::#,j;,.r";:l borrowing ;""
"or.*** ,i,.'";:i1fl"1'*':#I:i
to AAA entities ror
::::""i::H:::
(i\,1 f!; rale of Interest Subyenrjon
is celculated as .rhe
ro NABARD lrnctusive ce berween (a) cosr
1^110 " or interest, ,*"". ,.-}ltJen
charges,
management cost of 0.60%,, ,ro erc.l ptus tund
the State Govern:rient. TJ rii rr";.";il:.
(v) q *,. ."t. oi io;;::;
s%o p.a, then the
r;:',.iff#i5l",;X*::*:6S:1 3i",iT"
a(t,,above is ,ower than
"
*-1, irra....t subvenLion ..^r, .1 be reduced accordrngiv
I:T.1" rn i."$.g rate equal to s% p.a. ro
(vi) rJurther, t-lee event. thr
-i r, Nae^ri" ;:t :AT',*::;j#o^1.1:l
reason q,hatsoever from To"T: is not a,ailabre
o.i ,r,..;* i;:,;J: tri.:T
"iH;;::[=";=Ji:
-%:H'ri"?ffi;L:1..' u,i"costag,".i,."i"n5 o. the cost or tunds tL
of 0 60e6 p a' (Norraat
ro' tr,. p.ioJa.;"#;1q:Tent. ;; il.;.=:;
p: o., J;-;J"iTi.il:f"H:::?'r":H""nt is ';;;
unavalabre unJi
Subveation -- available period;. :nt is :-eceived (Iuterest
(rrr)
:f"i"H'.: "irlffifL:t interest subvention arnount
rrom Gor, NABARD
ji:ffi ,:*:T":"?:*il:.i";rirt:
8:T:*J.fi *lhi"ii:"F,I,.
h,:T",."i,"",r"i*,1,1',+tit*,#,;lgriJ.f"1f",:Hl*i;,l:
Sglj"j3.ili,"t.t*i*?*idffi;,,i1o". ",o",.",a i,T"*"i
1.4 Release of Interest Subveation
by GoI
(1)r*',:::'ffi
otherNLEsexcentNAB_lRf
ff ffi ff ,Iffi lr",""T3i1:r!-.,::ry":rormaraseraent
;;.';;";;"fi,-r#;"L"#:.Ji:*:,?
basis, receive, collate, coropile,
submit ;;;;" to GoI and on receipt from
GoI, release the interest
subvention ,rdr"" *l,rre
NABARD a Management NLEs. Col ugr"""-to p"y
other NLEs plus Goods and
fee a,.2.So/o *l a,Jr.,erest subvention claims of
Services ",
e'- i= P;;';]"; :f?:":-,?::,Y,Y:
"rJ.;;;,
5:,-):.
_ _*4b ru Y.::X:r:nt
F
\.uJ.rrr!L,) s renolng to
r
State governments
:"
and SpVs.
.- tLt
\ ',/
--1--''
..-, -
(n) GoI sha1l. based on a requisition from NABARD, release interest subvention
arnount in acivaace to NABARD, on a qua[eriy basis i e 1"t Aprii, i"t Juiy, iat
october, aIld l"t January, during tf.e entire tenor of all the loal sanctioned
under this Agreement.
[iii) At the end of the quarter, in the event there exists a difference in a.roount
betweeD the advance interest subvention received arld interest subvention
provided by NABARD during t}rat quarter, NABARD shall submit Interest
subvention clairns f61 ttre differ,ence a.mount along with interest advance
Utilization certificate alld GoI agrees to relcase such advance ald slairn
aaount within 30 days of receipt of such advance and clailo from NABARD,
rio tlat the advance amount is recouped.
(i\,) lrterest shall accrue, on tl]e unutilized advalce amount as per actual shall b':
credited to the interest subventjon adva-irce account, at tfle end of lhe
fi.nancia-1 year.
1.5 Pre-Payment
:,"trJ"d,f.":1.kt";;i:il::"#,*:,uf:":f :HT;JJLl.Ji
---4v1r!/
(4 u,a".t"i.". ;;ffi7JJ:i.#"L:H:H"TJTNABARD
bv Govemment of India ,"az and when required
carr5ring out
,r-r,tae'i;"i'"j:o^*
state Govern:rxent agrees for
evatuation. ;;;J^ :-::"I"-.
activities,*"""-;{},_f*!y"tr#.#::?r;"ii"*:ifi;ii
covernment shalt,
iermit ,"#..Lrtuor"s of NABARD rn
monitonng the projects, "ra ^""i"i ..ir""",
"..r".g yh.r, "r"i,
(9 Undertal<es to submit periodica.t is raised by NABARD.
rDanner and format specified
.rd^t. .ii..uulect irnrlementation in the
.-
(h) Agrees to execute/cau
by G"iiN;;RDpr
se to execute such supplementarlr
required by NABARD documents as
includi.,o
out its obligations under this ae...-.n,
"'"-;;;;;":.carrJr
2
#
(i) Agrees to submit to NABARD, the appiication for salction of loarr, along u'ith
any acidiiiona.l documents anci informarion as requireci by I'IABARD ior
appraising and sancLioning the project proposals.
[) Agrees to submit to NABARD, drawal appiications in the prescribed format
and in the prescribed marrler.
(ii) The Finarrce Departnent of State Government will be the Nodal Departrnent
for availing 1oa:r from NABARD under FIDF. The State Government shal.l
noiify to NABARD the na:ne, designauon and specimen signature of the
representative of its Finalce Department. who is duly authorized by it to
apply for drawal of tlee loan amounts ald issue necessary acknowledgements
for the amounts disbursed and also to receive comrnunication, notices arld
otJ:e:' cor::espondence frorn N 48.{P,D in respect of the }oans salctioneC, for
completion of forma-lities, rirau,ai of loa:r installments arrd repayments
tJrereof together wrth irrterest. The State Government sha-I] a.lso intirnate
NABARD of subsequent change rn the designated officer, if aly, and forward
the parliculars ald specirrren siEnature of tlie new incumbent.
(iii) The State Government sha1l execute a separate Tiale Promissory Note (TPN)
in favour of NABARD for each ioal disbursement. Each TPN wi-ll be
supported by written comnunication that necessary budgetary provision
would be made available arrd held in trust to repay the principal and interest
as per tJre schedute indicated in the TPi$.
(ir,) The State Government shall repay the loan to NABARD as per the
instructions as speci-fied in t\e terms and conditions of the Salction Letter
and disbursement advice issued by NABARD. The State Government shall
also pay interest on loans availed from out of FIDF from NABARD at the rate
and on due dates as may be prescribed by NABARD in the respective
sanction ietter/ disbursement advice. The Principal shall be repayable in
alnual insta-llments and tle mterest would be payable at quarterly rests.
(") The State Government, on a contiluous basis, shall maintain the detajls of
due dates / obligations towards repayment of principal a.nd payment of
interest to NABARD and also ensure avai.lability of adequate resources for
fuIfilling its obligations under this Agreement.
(vr) The State Govem:cnent shall ensure that a.11 statutory, non-statutory
approvals, licenses, per,aits :.nd cleara;rces as may be required under the
applicable laws including Environ:aenta.l and l,abour laws, are in full force
and effect. Notwithstaading aly provisions contained herein or any law for
tJ:e time being in force, NABARD shall not be iiable for any damages or
adverse effects arising out of the absence of or deficiency in any s*.atutory,
non-statutory approvds, licenses, permits and clearances.
("ii) The State Govemment shali furnish ar undertaking in favour of NABARD in
a format prescribed by NABARD t1:at it shall make adequate and specific
provision in its arrnual budget for repa)'ment of the principal, payment of
interest or any other dues in respect of loals availed by it from NABARD
rrnder rhie A e.reeftent The State Qorrernrnent shall also furnish a letter to
NARAG.TI t ,- . t^ffi.1 hrac^r 'r1 \'a-F{4Pir ;' ;o. mr;F
^4.1 ^^'1r:ffii-., '_.'
adequate and specihc prol,ision rn its a:rnual budget.
Q3
. (rr::) The Sare Govern
rhs li,''j1s r*.d T,:'::htj.t:": i :t*cate that the borron'ing is within
constitution or r'ai" '*;; Ardcie 293 (1) of tre
regisrature u-nder Article ze.1r1
;"ff[r::""''
ir, .;;"1.Jip,lr"":.T".9#:
borro'ring is a.lso subject
b ,h" :ff
"";;;; of
under Article zse(3i"it]r"
the Go,em-raent of Ind.ia,
(ix) H.""ff;'"3;;'j, consrirution of rndia.
Agreement *,o .f;:"' ,*l;,
T"#;:::? r ,ll,o"
rts
or *;
t'eHs or this
repal'ment obligations
NABARD under this Agreesrent. to
a subject to the provisions of
crause 2(xi), the state Government
an irrevocable tetter. of authoriry shalr furnish
executed by it a.ad. registered Mil;) U_" p..""iu.a ,.il":,o,.,,
uncondidonall], authonse ",lth ,fr. RBl/principal Balker and
to ;.q.*, RBI,z principal
rhe event of default by the.NABARD Ea,ker .rtrat rn
Srate C"";;;; in honoring its repalment
obligations ro lv^s^i. ;:r::':"-,:'Iernment
this Agreement, to debit r"rarrJ-,r, ' .,
amount as may o'^* ",,ottby NABARD'
requested
kincipal Ba'ker (and. further a-."i""an. n"rz "r,
to
principal,,,o*,,.,.ffi Hffi ::::iH:1.]:;:""1J:***.X.t
with RBI/ principai Bar:-ker
AII such "rO "r"*i'*. .*._
","o,..,." ^ ::t:1, ."d -#
State Government to NABARD
.;r";i.:]:-,::.h:"ilH:I*#H;
RBl/Pnncrpa.l Baaker for debit "n* _t.,ed as such b5, NeBeRD to
;ni *. .J.#t of rhp qt.+^ /1--._
provisions""-ri,.
;':#H"Hglahe
of the Reserv.
"r RBI
and ^o".J";;il;.-:l-._:::#;; ;,"
under su.b_s-ectio" f f oi sectir"
l -i" ,,, O
d;;'J:
""rJr.*"nt *rl-"i l" "nsr
Agreem ent,) /
actuar. posiuJn), tue"T$',,3"L'::1 B::-**
State Gor"*.rrt&T"5*T-r$=s-.eer
uncon didonauy authorises
ra"^." i" l.q"; _;l; #
promptlv on the requests
state Government account
of NABARD .;"".
;:; "f, }.fr|? r" ?i
2(x) above a,,d debit the
maintained""*L n",u kincipal Banker by credit
to t},e account of NABARD
o, ,o NA.BARD Eay speci&, arld
"rJ ".";;;
the RBI p'-JpJe".ker
:""fi::Hff3'L,:"3:"* u to act a" pe. this
stat.oo,e..,-.ni;:"[T::,;ff:;"T,:,[iTIm.;Hs."Xrtt:
:J::ffiIfl.::,Y;"o to the extent oi1,r"r,u,iq,
il;",;;';.
subsequenfly as arrd to trr.
become available _ ,,".r"|;::?]ted .rt"rt tuJ"
Explanation:
The borance in the state
Gouemmerx accouflt means tre
ac@uft7 including the minimum . amount herd in such
balance ,"*r;;*';; be m.aintaired
/
und'er tLe RBI principal in the
uags and means aduances' thl "nn
Banreer
^.i) oii tL autnorised. rimit of theaccount
normat
operatiue ttnit oi tne speciar
ways and means
y"TIT
i 1LK::H ::t
;
h",i d ;; ;"n; ;'
". ;;, Zoy a mad e b y
-nu,
imi-,
"
but not including any unautl'r.,rised- ",
,nnu ._ ..n1a-,.-,,i
; horte t-
- -_,ysq ttL suc,1
-. --.-^n*"n'
eCCOUi.!.
ouerrl-raft t!r:.t
./-\
q:)
(xii) Not\r'ithstanding t]:e provisions of the RBI Agreement / Agreement qdth its
kincipai tsalker iro be modifieci as per actrrai positioni, the State
Government hereby undertakes not to exercise the option of terminatjng the
RBI Agreement / Agreement with its kiocipal Banker while this Agreement
remains in force, and the state Goverrulent accepts that t].e option of the
State Government under the RBI Agreement / Agreement with Principai
Banker stands modified to this extent.
{xiii) While tlus Agreement is in force, t}le State Government will fuliy indemnify'
NABARD against any ioss or iiabiliry caused by any act or omission of the
State Govem.rnent that may prove harmJul or prejudicial to the interest of
NABARD. Further, the Sta.: Government will fully indemnify NABARD
against any form or manner of revocation of t]lis Agreement during tl:e entire
duratron of this .{greement.
txiv) The liabfiry of t}te State Gol,ernment to NABARD under this Agreement shall
not be imparred or discharged by reason of any time or other indulgence,
u,hich may be granted by NABARD or by a forbearance whetlter as to
repaJnnent, time or performance.
(:cv) The State Government shall not by its act, omission or otJrerwise revoke,
withdraw or in any malner render this Agreement ineffective eitJ:er who1ly or
partially so long as it is in force.
(xt'i) All the amounts repayable under this AgreeDent shall be paid by the State
Government to I{AtsARD ali shaii be deemed as "debt charges" for which
tJ:e State Government is liable. The repa5rment of such "debt charges" sha1l
be erpenditure chargeable to the Consolidated Fu-nd of t}re State of
---- in terms of ArLicle 202(3) of the Constitubon of India.
(xoii) As a separate and alternative strpulation, the State Government irrevocably
agrees t-hat any sums expressed to be payable by it under this Agreement,
but which for any reason whatsoever whether existing now or in future are
not recoverable from the State Government on the basis of this Agreement,
shall nevertheless be payable by and recoverable from tle State Govemment,
and the State Government shall indemlify NABARD and hold haroless
accordingly.
(fi) fi".H'i:T':t"1'r::#13i.";{$oio'i'"o.*NABAR;';;;;
LioI sha-.l ensure that NIA \r,iII
undertate desk ald field monitoring.
identifz critical issues and bottleneck" and
progressing projects, geographical -ofio.r_"a*".
"r"i-." pro.lects, projects, stow
project-wise progress report,
aisfiUuUon compilation of
outcorres etc., a,d p1"". it before
approval. In addition to the above, the cAMC for
GoI shall ;"; *""1" that CAMC
out project-wise mia-terri;";.X"*?
n conections, if 1_"-1 ";reguired due will car*
.A'-;_.^.__
**4rarru r,. a:ny t., +."r.-;^1,
aLr\/c COmnU lSlO].t S
.--- (ir
---.. \-
t
(iv) Gol. sha-1l through Department of Fisheries, pay tJle interest subvention
alxount to NABIRD till ourst-end:lg dues and trterest anount are fu1ly paid
off.
(.i in the event of default by the State Governmeot in honoring its repaynent
obligation under this Agreement, GoI shall not release any further amounts to
the state GovernrDent under its centra.lly assisted schemes, tiil the default to
NABARDbyt}reStateGovernmentiscleared.Furt}rer,NABARDsha.]lhavet}re
"First Charge" on the amount due or becoming due from GoI to the State
Government on account of central plarl assistance ar]d grants, including
FiJ]a:lce Commission Gr:a.!]ts, .evoiution of States share in Central taxes and
any other aroount payable to the State Government The aforementioned
amounts could be deducted, bl'GoI in case of State share of Central taxes as
arrdwhenthatState,SshareiscreditedtotheStateGovernment,Saccount
w'ith RBI / Principal Bar rer, subject to provisions of para 2(x) above'
ilr witness whereof, the parLies have signed this Memorandum of Agreement on the
day, rnonth ald year mentioned herein beiorx'
Sigaature of Shri
Priacipal Secretary/ Secretary, Depart'nert of Fisheries'
Goverr:.meot of the State of Tamu Nadu
Acting ia the premises for aad behalf of and uader tbe
Authority of Governor ofthe State of T""'il Nadu
Place Date:
In the presence of
1?
-
@)*
Place:
Date:
In the presence of
Signature of Shri
t^:_ -
vuu|.
^
bECrttarv , , _i.!ar-
_ j,__+_
!der.!
^_ - (,r .! rsrenes,
Husbandry and Dairying aairxistry of Fisheries, A.D'iE.al
Government of of lo,tir, New Deiiri
I10 OO1
Actiag in the premises for aad behalf
of aad under the
Authority of president of India
Place Date
In the presence of