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February 1st, 2016, 10:13 AM
Super Moderator
 
Join Date: Mar 2012
Re: CGTMSE Scheme Central Bank of India

Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai, Maharashtra. The bank was established on 21 December 1911.

Cent Sahyog

Purpose -

To cover credit facilities in MSE sector (Manufacturing & Services)

Eligibility-

All types of unorganized service and manufacturing sector including small shop owners like those engaged in mobile / TV repairing(Not Selling), small garage, juice shop, bakery owner, Sweet Meat / Farsan Shop etc will be eligible.

However, the following category will not be eligible under the scheme:

Retail Trade (categorized as small services)
Educational/Training Institutions
SHGs.

Nature of Facility-

The facility may be either Overdraft / Cash Credit working capital limit or Term Loan.

In case of loans up to Rs.10 lacs, Over Draft limits may be allowed without insisting for Stock Statements, particularly for Service Sector.

Quantum of finance-

Maximum Rs.100.00 lac.

Rate of Interest-

Upto 10.00 lakh: BR + 0.50%
>10.00 lakh & upto 100.00 lakh: BR + 1.00%

Processing Fee-

Upto Rs.50,000: Rs.100 per proposal
> Rs.50,000 upto Rs.5.00 lacs: Rs.1000 per proposal
>Rs.5.00 lacs & upto Rs.100.00 lacs: 0.5% of the loan amount (maximum Rs.25,000)

Renewal charges @ 0.10% of the loan amount (maximum Rs.15,000)

Documents Required-

Application Form
Details of Primary securities
Balance Sheets for the past 2 years along with estimated & projected Balance Sheets and other financial statements, where ever applicable.
Documents for KYC verification
Constitution of the borrower i.e. individual, proprietorship, partnership, limited company, with supporting documents
Usual OD/CC/ Term Loans documents of the bank


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