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 Plus
|
|
This is a new product designed to meet unforeseen expenditure of Small Scale Industries with excellent track record. Salient FeaturesEligibility 1. Existing borrowers with
outstanding classified as standard assets as on 31st March for the
past 2 consecutive years. 2. For limits above Rs. 25 lacs,
the threshold credit rating should be SB III 3. May be extended to new borrowers
at the discretion of the sanctioning authority 4. Proposals of existing borrowers
who are not covered under (1) above will have to be approved by sanctioning
authority or by the Controlling Authority in case the sanctioning authority is
below the rank of Assistant General Manager. 5. Ensure that the facility is
extended to customers with high standing and integrity. Purpose
Contingencies like repairs to machinery, labour payments, tax
payments, additional purchase of raw materials for execution of bulk orders
etc. Amount
Special credit limit equal to 20% of aggregate fund based working
capital limits subject to a maximum of Rs. 25 lacs Borrowers are free to utilize the facility 12 times a year. There
should be a gap of 15 days between repayment of outstandings and the date of
next utilization. Repayment
Amount once drawn cannot be outstanding for more than 2 months. AssessmentSimple assessment made by computing 20% of the aggregate fund
based working capital limits (i.e. limit against stocks and bills put
together) or Rs. 25 lacs, whichever is lower. Accounting
Procedure 1. Clean Cash Credit Limit 2. No Drawing Power Register 3. No Chequebook for the SME Credit Plus Account. 4. Amounts to be transferred from the Account to the running Cash
Credit account on written request from the borrowers. Security
No primary security Security available for other sanctioned limits will be extended
to cover this facility. Additional collateral security where necessary may be obtained.
It is not, however, compulsory. Documentation Same as applicable to clean cash credit limits Renewal
Renewable once a year along with the other working capital limits
and will be enhanced/reduced if there is revision in the working capital
limits. Insurance No insurance is necessary. Interest Interest is at the rate applicable for working capital limits. IRAC norms
and Inspection As per extant instructions SME Credit
Plus |
