- Acknowledgements for receipt of loan application by branch by affixing date stamp
- Time Norms for disposal of loan applications:
a. |
Upto Rs. 25000/- |
2 weeks |
b. |
Over Rs. 25000/- upto Rs.5 lacs |
4 weeks |
c. |
Over Rs. 5 lacs |
8-9 weeks |
- No collateral security for advances upto Rs. 5 lacs
- No collateral for advances over Rs. 5 lacs and upto Rs. 15 lacs based on good track record and satisfactory financial position
- For loans sanctioned without collateral security / third party guarantee for advances between Rs. 5 lacs and Rs. 25 lacs guarantee is available under Credit Guarantee Fund Trust Scheme for SSI (CGFTSI)
- Composite loan upto Rs. 25 lacs is sanctioned to SSI units
- Loan quantum: Minimum 20% of projected annual sales turnover (Nayak committee norms)
- Margin (Stake of borrowers)
a. |
Upto Rs. 25000/- |
Nil |
b. |
Over Rs. 25000/- upto Rs.5 lacs |
20% |
c. |
Over Rs. 5 lacs |
25% |
- Stree Shakti Package (Scheme for women) margins are reduced by 5% and interest reduced by 0.5% in respect of loan above Rs. 2 lacs
- Laghu Udhyami Credit-Card : Hassle free credit upto Rs. 5 lacs based on scoring model and simple application form to Small Businessmen/Tiny Sector
- Simple loan application form as per Kapoor committee recommendations introduced
- SME CREDIT PLUS: Additional limit @ 20% of original limit, to meet the unforeseen requirements of SSIs is sanctioned which can be availed 12 times in a year, maximum Rs. 25 lacs
- Flexi (SSI) Term Loan - upto Rs. 20 lacs for shoring up NWC, substitution of high cost debt, R&D expenditure, acquisition of land and building, purchase of equipments, vehicles etc.
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