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)
|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.|
|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|
|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.
( Last modified on Apr 29, 2020 at 08:04:27 PM )