|
1. SMALL and MEDIUM ENTERPRISES (SSI):
- Bank will extend composite loans to SME Entrepreneurs through a ‘Single Window’ System at competitive rate of interest.
- Loans up to Rs.50 Lakh are allowed without Collateral Security and/or Third Party Guarantee, but with coverage under CREDIT GUARANTEE FUND TRUST FOR MICRO AND SMALL ENTERPRISES (CGTMSE).
- Loans to MICRO ENTERPRISES, SMALL BUSINESS and ROAD TRANSPORT OPERATORS also allowed without Collateral Security and or Third Party Guarantee (subject to conditions).
2. SMALL ROAD & WATER TRANSPORT OPERATORS:
ELIGIBILITY: Small Road and Water Transport Operators owning a fleet of vehicles, not exceeding TEN vehicles, including the one proposed to be financed. Only new vehicles will be financed.
Repayment: 36 to 84 Equated Monthly Installments depending upon the
repaying capacity of the borrowers.
3. RETAIL TRADERS:
ELIGIBILITY: Retail Traders dealing in essential commodities (fair price shops) and consumer co-operative stores and other private retail traders with credit limits not exceeding Rs.10.00 lakhs.
Purpose: For acquiring premises or furniture / show cases and office
equipment and for working capital requirements.
Eligible Persons: Individuals / partnership firms, Consumer Co-operative
Stores engaged primarily in buying and selling of goods.
Repayment: 36 to 48 Equated Monthly Installments depending upon the
repaying capacity of the borrowers.
4. SMALL BUSINESS:
Small Business would include individuals and firms managing a business enterprises established mainly for the purpose of providing any service other than professional services whose original cost price of the equipment used for the purpose of business does not exceed Rs.20.00 lakhs without any restriction on working capital limit.
Purpose: Credit facilities granted for purchasing of necessary equipment,
repairing or renovating the existing equipment, acquiring or repairing the
premises, purchasing tools and for working capital requirements.
Eligible Persons: Individuals / partnership firms providing any kind of
services other than professional services. Eg. Hotels, cycle & taxi, Tea
Stall, Photostat, PCO, Pickle making, Hair cutting Saloons, Mike Set, Kite
Making etc. Dealers in mineral oils.
Repayment: 36 to 48 Equated Monthly Installments depending upon the
repaying capacity of the borrowers.
5. PROFESSIONAL AND SELF-EMPLOYED PERSONS:
Loans to professional and self-employed persons include loans for the purpose of purchasing equipment, repairing or renovating existing equipment and /or acquiring and repairing business premises or for purchasing tools and/or working capital requirements to medical practitioners including dentists, Chartered Accountants, The under noted specific categories of advances will also be eligible for classification under this item.
- Credits for the purpose of purchasing equipment, acquisition of premises and tools, vehicle etc. to practicing company secretaries who are not in the regular employment of any employer.
- Financial Assistance for running “Health Centre” by an individual who is not a doctor, but has received some formal training about the use of various instruments of physical exercises.
- Advances for setting up beauty parlours where the borrower holds qualification in the particular profession and undertakes the activity as the sole means of living/earning his/her livelihood.
Preference may be given by banks to financing professionals like doctors, etc., who are carrying on their profession in rural or semi-urban areas. The term also includes firms and joint ventures of such professionals and semi-employed persons. This category will include all advances granted by the bank under special schemes, if any, introduced for the purpose.
Only such professional and self-employed persons whose borrowings (limits) do not exceed Rs.10.00 lakhs of which not more than Rs.2.00 lakh should be for working capital requirements should be covered under this category i.e., professional and self-employed persons. However, Within the above mentioned ceilings an advance granted to a qualified medical practitioner for purchase of one motor vehicle may also be reckoned under the priority sector lendings. Advances granted for purchase of a motor vehicle to professional and self-employed persons other than qualified medical practitioners will, however, not be included under the priority sector.
Purpose:
a) Purchase/repair/renovation of equipment, purchase of tools.
b) Acquiring/repair/renovation of premises.
c) To meet working capital requirements.
Eligible Persons: Doctors, Lawyers, Chartered Accountants, Engineers, Architects, Tax Consultants, Magicians and Researchers are eligible for finance in the form of Individual capacity or as partnership firm.
Surveyors, Construction contractors or Management consultants or to a person trained in any other art or craft who holds either a degree or diploma from any institution established, aided or recognised by Government or to a person who is considered by the bank as technically qualified or skilled in the field in which he is employed are also eligible for the loan.
Loan amount: Rs.10.00 Lakh including Working Capital Limit not more than Rs.2.00 lakh will be financed. In the case of professionally qualified medical practitioners setting up practice in Semi-urban and rural areas, the loan up to Rs.15.00 lakhs (including for purchase of CAR) of which not more than Rs.3.00 lakhs for working capital purposes will be financed.
Repayment: 36 to 72 Equated Monthly Installments with a gestation period not exceeding 3 months.
|
