with investment in plant and machinery upto 25 lac under manufacture sector and upto 10 lac under service sector Small Enterprises, with investment in plant and machinery of over 25.00 lac to 500 lac under manufacture sector and of 10.00 lac to 200 lac under service sector.
with an investment in plant and machinery of over Rs 500 lac to Rs 1000 lac under manufacture sector and over Rs 200 lac to Rs.500 lac under service sector.
The Charter discusses the facilities available to the Customers under MSME as a whole. Acknowledgement for receipt of loan application by branch by affixing date stamp. Simple loan application form for all credit facilities to Micro and Small Enterprises and for Medium Enterprises up to Rs.2 crores along with checklist as per IBA guidelines.
Time Norms for disposal of loan applications:
- Upto Rs. 25000: 2 Weeks
- Upto Rs. 25000 & Rs 5 Lacs: 4 Weeks
- Upto Rs. 5 Lacs: 8 to 9 Weeks
No collateral security for advances upto Rs 10 lac and accounts to be covered under CGMSE as per RBI Guidelines. Collateral security are also waived for advances over Rs 10 lac upto Rs 100.00 lac for viable projects based on good track record and financial position under CGMSE. Composite Loans upto Rs 100 lac are sanctioned to Small Enterprises under single window scheme.
Minimum 20% of projected annual sales turnover (P.R. Nayak Committee norms) for working capital requirements.