From : E-Group, STC, Salt Lake, Kolkata This message is intended only for the use of the Addressee and may contain information that is PRIVILEGED and CONFIDENTIAL. If you are not the intended recipient, dissemination of this communication is prohibited. If you have received this communication in error, please erase all copies of the message and its attachments and kindly arrange to notify stcsaltlake@xxxxxxxx immediately. Using Internet Explorer in ATM PC of your branch, please browse http://10.128.74.200 (our Intranet Web-Site). We have provided lots of Reading Materials for you at the site. Happy browsing! Dear Member, Kindly double click on the enclosed attachment to read it. With regards, Anup Sen, Moderator E-Group, STC, Salt Lake, Kolkata email : stcsaltlake@xxxxxxxx We shall be glad to receive your feedbacks through emails regarding the mails being sent to you through this e-group.Title: State Bank of India, Staff Training Centre, Salt Lake City, Kolkata
SME Credit Card
The scheme is designed to provide hassle free financial support to
the Small Business Units,
|
|
Eligibility
|
v Customers with satisfactory
track record for the last 2 years under v SSI, SBF, SBE, and
Professional and Self employed. v Units without any credit limit
with excellent performance and credentials can also be considered. Transport
Operators/Finance for acquisition of shop can be considered In case of new
units the net profit, turnover and other financial parameters need to be
taken into account. |
|
Quantum
of loan |
v Loan unto max. Rs.5 Lacs
subject to assessment |
|
Assessment
|
v For SBF retail traders
limit will be 20% of the declared turnover or turnover in the operative
account for past 12 months which ever is higher. v For professionals and self
employed persons, 100% of their gross annual income as per IT returns. v For SSI units as per Nayak
Committee recommendations. |
|
Validity
|
v 3 years subject to
satisfactory conduct of account v Annual review to be done
and major sales should be routed through the account |
|
Repayment
|
v In case of Term Loan and
Composite Loan the repayment should be made in 5 years v In case of Working Capital
limits if the credit summations are less than 50% of the projected annual turnover
the outstanding on the date of review should be made payable in suitable
monthly instalments |
|
Operational Guidelines |
v SME Credit Card should be
maintained in a separate ledger. v Cheque should be issued v Pass book to be issued v Submission of audited
balance sheet waived. v IRAC norms would be
applicable v Brief opinion report should
be recorded. v New units should be located
with 5 KM radius of the branch v Minimum score should be at
least 60% v Stock Statement as on 28th
Feb. every year would be required to be submitted |
|
Reference |
v CirCo/Adv/51/2002-03 dated
21st May, 2002 v CirCo/Adv/297/2002-03 dated
19th March, 2003 |
