COVID – REASSESSMENT OF WORKING CAPITAL LIMIT

Re-assessment of Working Capital limits due to COVID-19 emergency for AGRI Sector, MSME Sector and Corporate Borrowers (not engaged in Real Estate, Commercial Real estate and Infrastructure)

Parameter	Norms
Eligibility	The existing working capital account should be in “Standard Category”
Purpose	To meet the additional working capital requirements for build-up of Current Assets, Extension of Debtors cycle and substitution of Trade creditors.
Rate of interest for additional limit	MSME Borrowers: Repo + 4.70%, presently 8.10% p.a. Others : 1 Yr MCLR, presently 8.10% p.a.
Period	One year from the date of sanction.
Margin	10% on Inventory & 15% on Book Debts
Processing charges for additional limit	NIL
Validity of the scheme	Upto 31.05.2020 for sanction.
Others	Contact branch for further details
Documents required	Duly filled in application with list of documents detailed in application. 1. Application for Agri sector Borrowers 2. Application for MSME and Corporate Borrowers
Acceptable mode of submission of application and other documents	By E mail / In person to the Branch.
Helpline Numbers & Email ID for queries, facilitations and Grievances	Mobile: +917305898976 / +918745984800 Email: ibcovidresponse@indianbank.co.in
Timeline for appraisal, sanction, documentation / disbursement	For exposure upto Rs. 5 crores – within 10 days from the date of receipt of application with enclosures. For exposure above Rs. 5 crores – Within 15 days from the date of receipt of application with enclosures.