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Farm Machinery Bank Scheme (FMBY 2024)

Category: India || by: Jaswant || Update: 2024-02-05

Farm Machinery Bank Scheme FMBY has been started by the Government of India. In this scheme, the Government of India has started this scheme to provide benefits to the farmers. The special thing about this scheme is that in this, only 20% of the total cost will be given to the farmers. Will have to be invested while the remaining 80% money will be subsidized by the government. In this article we will talk about farm machinery bank registration, farm machinery bank scheme, village level farm machinery bank, How To Apply, Key Points, Eligibility Criteria, Beneficiaries, Required Documents, How To Log in?, How To Register?, Official Website, Helpline number etc. other information is included

What is Farm Machinery Bank Scheme 2024?

The central government has set a target of increasing the income of farmers by promoting modern machinery in agriculture. Farm Machinery Bank Scheme is important in achieving this goal. The special thing about this scheme is that farmers will have to invest only 20% of the total cost while the remaining 80% money will be subsidized by the government. Under this scheme, subsidy ranging from Rs 10 lakh to Rs 1 crore will be provided. In the Farm Machinery Bank Scheme, subsidy on one machinery will be provided only once in 3 years and the beneficiary can avail subsidy on 3 different types of machines in 1 year. Any person can open a Farm Machinery Bank and provide agricultural equipment to farmers on rent.

Farm Machinery Bank Scheme (FMBY 2024)

So that it will be easier for them to do farming. The government has also talked about setting up a custom hiring center for this scheme. In this way this scheme will become a very good source of rural income. If you are a farmer and want to take advantage of this scheme by applying for Farm Machinery Bank Scheme 2023, then all the information is given below like: benefits of the scheme, eligibility, required documents, official website, how to apply, how to register?, Track application status?, how to log in? Etcetera.

Highlite Farm Machinery Bank Scheme

Farm Machinery Bank Scheme
 Details
Name of the SchemeFarm Machinery Bank Scheme 2023
Purpose of the SchemeEncourage the establishment of machinery banks to promote modern agriculture machinery rental.
Start of Scheme2023
Income Support80% of total expenditure or subsidy ranging from Rs 10 lakh to Rs 1 crore provided
Sector of SchemeCentral Government
Ministry of YojanaMinistry of Agriculture and Farmers Welfare
Current StatusActive
Beneficiary of YojanaAll farmers of India
Apply ProcessOnline
Official Websitehttps://agrimachinery.nic.in/
Download Apphttps://play.google.com/store/apps/details?id=app.chcagrimachinery.com.chcagrimachinery&hl=en
Helpline No[email protected]

Benefits of Farm Machinery Bank Scheme 2024

  • Any farmer in the country will be able to take advantage of this scheme.
  • Under this scheme, Farm Machinery Banks will be opened in rural areas by the Central Government, through which farmers will be able to take agricultural machinery on rent.
  • Establishment of Machinery Banks The beneficiary will have to pay only 20% of the total cost while the remaining 80% will be paid by the Government of India.
  • Within 1 year, farmers will be able to get subsidy on three different types of machinery.
  • Farmers can make their farming easier by taking advantage of the Agricultural Machinery Subsidy Scheme.
  • With this, all the farmers of the country will be able to use modern agricultural equipment in agricultural work at low cost.
  • Custom hiring centers will also be built by the Central Government for the implementation of this scheme.
  • Farmers will get more produce in less time and farmers will save time.
  • New modern equipment will be available in this scheme which will strengthen the economic condition of the farmers.
  • Overall, this scheme will prove to be a milestone in improving the living standards of farmers and increasing the quality of farming.

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Eligibility for Farm Machinery Bank Scheme

  • To avail the benefits of this scheme, the applicant must be a resident of the country.
  • The applicant farmer must have a bank account linked to Aadhaar card.
  • The age of the applicant should be 18 years or more.
  • The candidate should not be taking benefit from any other agricultural subsidy scheme.
  • Farmers will have to fulfill all the standards set by the government.

Required Documents

  • Aadhar card
  • Ration card
  • Address proof
  • income certificate
  • Bank account details linked to Aadhaar and passbook
  • mobile number
  • passport size photo
  • land documents
  • caste certificate

Bail money will have to be deposited here

Within a week of receiving the token, the prescribed security amount of Rs 5,000/- for Farm Machinery Bank will have to be deposited offline or online in any branch of the nearest Union Bank and the certificate of depositing the amount as per the prescribed procedure on the bank and portal. But it will be marked automatically. If the prescribed security amount is not deposited within the prescribed period, its token will automatically be cancelled.

If the security amount deposited by the beneficiaries through token is not purchased within the stipulated time, the token amount of the beneficiary will be confiscated.

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How to register in Farm Machinery Bank Yojana 2024

  • First of all, go to SOME USEFUL IMPORTANT LINKS above and click on the link given in front of Farm Machinery Bank Registration.
  • Then a home page like this will open in front of you.
  • On the home page you have to click on the registration tab. As soon as you click on the registration tab, 4 categories will open in front of you like this-
  • Farmer
  • Manufacturer (MANUFACTURER /IMPORTER)
  • ENTREPRENEUR
  • SOCIETIES/SHG/FPO
  • You have to click on any one of these 4 options given above according to your category.
  • After clicking, some information will open, after reading which you have to click on the Close button.
  • After this the Checking For Registered Farmer registration form will open. In this, verify the Aadhar No or Mobile No or Name (As Per Aadhar Card) by any one of these three, Checking For Registered Farmer.
  • After this the registration form will open in front of you. In which all the asked information like name, GST number, address, mobile number etc. will have to be filled.
  • Now you have to upload all the important documents.
  • After this you will have to click on the submit button.
  • After submission you will receive a reference number which you need to keep with you.

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How to Track Farm Machinery Bank Scheme Application?

  • For this, first of all you should go to SOME USEFUL IMPORTANT LINKS above and click on the link given in front of Track Your Application.
  • Then a page like this will open in front of you.
  • Here you have to enter your application number.
  • As soon as you enter your application number, your application status will appear on your screen.
  • In this way you can successfully know your application status.

How to track Farm Machinery Bank Yojana implementation?

  • For this, first of all you should go to SOME USEFUL IMPORTANT LINKS above and click on the link given in front of Track Your Implementations.
  • Then a page like this will open in front of you.
  • Here you have to enter the engine number and chassis number.
  • Now you have to click on the link of search implement.
  • Thus the implement status will be on your computer screen.
  • This way you can track implementation successfully.

How to Calculate Farm Machinery Bank Scheme FMBY Subsidy

  • First of all, go to SOME USEFUL IMPORTANT LINKS above and click on the link given in front of Subsidy Calculator.
  • Then a page like this will open in front of you.
  • Here you will have to enter all the requested information like name of the state, scheme, gender, category of the farmer, implement, dealer sale price.
  • After this you will have to click on the Search Show button.
  • In this way you can calculate subsidy successfully.

How to download mobile app

If you want to download the mobile app of Farm Machinery Bank Scheme, then you can see its link by going to our SOME USEFUL IMPORTANT LINKS above. You can download the mobile app by clicking on the link given in front of Farm Machine Solutions APP in the section SOME USEFUL IMPORTANT LINKS.    

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Process to view manufacturer/dealer information

  • For this, first of all you should go to SOME USEFUL IMPORTANT LINKS above and click on the link given in front of Manufacturer / Dealer Details.
  • Then a new form will open in front of you.
  • In this form, you will have to fill your name, state and district and click on the search button.
  • In this way you can successfully view your manufacturers/dealer information.

How to sign in or log in to Farm Machinery Bank Yojana?

  • To sign in, you have to go to the tab of Direct Benefit Transfer in Agriculture Mechanization. For this, go to SOME USEFUL IMPORTANT LINKS above and click on the link given in front of FMBY SIGN IN / LOG IN.
  • Then a page like this will open in front of you. On this page you will have to click on the sign in link given on the right side.
  • Here some categories will open in front of you, such as:
  • Govt Officer
  • manufacturer
  • dealer
  • farmer
  • Entrepreneur
  • Societies/SHG/FPO
  • Now you have to select your category.
  • After this, the login form will open in front of you in which you will have to enter your login ID, password and captcha code.
  • Now you have to click on the sign in button. In this way you will be able to sign in.

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