BANK OF INDIA

SSI Finance

1. Acknowledgement of loan applications by branches
2. To issue applications accompanies by checklists
3. To comply with time norms for disposal of applications, received complete in all respect:
   
   
   • 2 weeks for loan upto Rs. 25,000/-
   • 4 weeks for loan upto Rs. 5 lacs
   • 8-9 weeks for loan over Rs. 5 lacs


4. No collateral security for loans upto Rs. 5 lacs
5. No collateral for loans over Rs. 5 lacs and upto Rs.15 lacs subject to good track record and financial position
6. To consider composite loan upto Rs. 50 laqcs
7. To compute working capital requirements based on Nayak Committee norms. Loan quantum: Minimum 20% of anticipated annual turnover
8. To cover loan accounts with limits upto Rs. 25 lacs without collateral security / third party guarantee under CGFTSI, if eligible
9. To offer concession interest rates upto 1% under "Priyadarshini Scheme" (Scheme for Women Entreprneuers)
10. To consider short term loan facility at Sub-PLR rates to meet temporary liquidity requirements of eligible credit worthy existing borrowers with good track record under "Star SSI Suprime Scheme".