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- Advances Excluded- Exports made on deferred terms of payment, turnkey projects, construction works and service contracts/Advance granted by Offshore banking Units/Advance granted against Duty Drawback.
- Maximum Liability-RS:600 crores
- Premium on monthly basis @ 7.5 paise per RS:100/- per month on average daily product.
- Policy Holders—Associates 60% & Others 90%
- Non Policy Holders—Associates 50% & Others 50%
- Discretionary Limit- Limit Sanctioned to new exporter not exceeding RS:100 lac are eligible.
- Advances Covered-All post shipment advances granted in India by way of purchase/discount/negotiation of export documents.
- Advances Excluded-- Advances Excluded- Exports made on deferred terms of payment, turnkey projects, construction works and service contracts/Advance granted by Offshore banking Units/Advance granted against Duty Drawback.
- Maximum Liability—RS:500 Crore during one year of ECIB cover.
- Premium—Payable on monthly basis @ 4.5 paise per RS:100/- per month on average daily product.
- Original Investment in equipments of human medical practicing doctors not exceeding RS: 2 Crore.
- Term Loan RS:5 to 50 lacs (60 months to 84 months- including moratorium of 6 months)/Cash Credit (Working Capita 10% of projected gross income- 12 months review/renewal)
- Individual/Proprietorship/Partnership firms/Pvt. Ltd COs
- Margin – Loans upto RS:5 lacs—25% (Others 15% of cost of equipment)
- Interest—BPLR-0.75%(floating)
- CGFTSI Cover/Insurance
- Processing Charges—1% plus Service tax & Education Cess (Minimum RS:1000/-).
- Individual Loans from existing RS:50000/- to RS:1 lac.
- Group Loans existing RS:5 lac to RS:10 lac
- Primary Security will be referred as Primary Collaterals
- Cover the non-farm sector advances to individual SGSY beneficiaries falling under Micro Enterprises category under CGTMSE Scheme.
- Salaried & Non Salaried Borrowers including Pensioners
- Minimum Gross Salary RS:8000/-pm OR Minimum Income RS:1.5 lacs pa
- 40% Take Home Pay after EMI
- Margin—10% of Total Cost on Road
- Loan Amount—Maximum RS:60000/- (Exceptional Cases RS:1 lac)
- Repayment--- 48 EMIs from one month after disbursement.
- Guarantee---Personal; Guarantee of Spouse or PF/Gratuity Nominee
- Waiver of Guarantee in case of 100% Collateral Security
- EMI through Employer OR 48 PDCs
- Interest---12.25 (Fixed)
- Processing Charge-1% Minimum RS:500/-
- Pre Payment Charge---NIL
- Take Over of eligible Home Loan Accounts within the range of RS:5 lacs to RS:100 lacs
- Minimum default-less loan servicing period with the existing lendwer reduced to post-moratorium period of 12 months from 30 months.
- At rate of interest applicable under UCO Shelter Scheme depending upon the margin, tenure and quantum of loan.
- Minimum 15% margin.
- Receipts---RS:45/- per transaction
- Payments other than pension--- 9 Paise per RS:100/- turnover
- Pension Payments---RS:60/- per transaction
- 40% of total advances to Small Enterprises Sector should go to Micro (Manufacturing enterprises having investment in Plant and Machinery upto Rs. 5.00 lakh and Micro (Service) Enterprises having investment in equipment upto Rs. 2.00 lakh;
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- 20% of total advances to Small Enterprises Sector should go to Micro (Manufacturing) Enterprises with investment in Plant and Machinery above Rs. 5.00 lakh and upto Rs. 25.00 lakh, and Micro (Service) Enterprises with investment in equipment above Rs. 2.00 lakh and upto Rs. 10.00 lakh.(Thus, 60% of Small Enterprises advances should go to Micro Enterprises).
- For economic empowerment of women through the development of their entrepreneurial skills in non -farm activities.
- Extension of loan facility to NGOs for on -lending to women, either through Self-Help Groups (SHGs) or individually for setting up Small and Micro enterprises in the non-farm sector.
- Government (the Ministry of MSME) provides assistance in the form of grant upto 30 % of the total project cost, as appraised by the lending agency (Bank), for capacity building of NGOs for promoting entrepreneurship among target group of women. The remaining 70 % of the project cost is to be financed by the Bank, as loan for under taking activities as envisaged in the project report.
“Trade Related Entrepreneurship Assistance and Development ” Scheme :
Any loan sanctioned to Micro and Small Enterprises up to a limit of Rs. 5 lac should be without any collateral and/ or third party guarantee. However all those accounts should invariably be covered under CGTMSE Scheme.
“New Farmer is defined as one availing of bank credit for the first time and for this purpose, his declaration to that effect could be taken as the basis”.
For Advances against pledge of Gold Ornaments for Agriculture Purpose – Maximum amount of loan per gram of 22 carat gold is increased from the existing Rs. 750/- to Rs. 900/- per gram or 65% of the market price whichever is less.
Micro Credit: Provision of credit and other financial services and products of very small amounts not exceeding Rs. 50,000 per borrower.
Export Credit will form part of priority sector for foreign banks only.
Education: Educational loans granted to individuals for educational purposes up to Rs.10 lakh for studies in India and Rs.20 lakh for studies abroad. Loans granted to institutions will not be eligible to be classified as priority sector advances.
Housing loans to be classified as priority sector advances.
ECGC has renewed the Credit Insurance Policy-ECIB(WT-PS)
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SWARANAJAYANTI SHAHARI ROJGAR YOJNA(SJSRY)-REVISED
Loan upto RS:25,000/- to be sanctioned within 15 days
Loan above RS:25,000/- to be sanctioned within 8-9 weeks.
SHG under SJSRY scheme are eligible for opening of savings account.
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UCO Doctor Scheme:
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New Deposit Account Opening Forms:
DS-1A (Revised)---Account Opening form for individual
D-1 (Revised)--- Account Opening form for other than individual
DS-1C--- Additional deposit Account opening form
DS-1D---Customer’s Profile
DS-1E---Form for Existing Customers.
SWARNA JAYANTI GRAM SWAROJGAR YOJNA (SGSY)
Increase in secondary Collaterals in respect of:
UCO Two Wheeler Scheme:
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Protsahan Yojna Scheme to Staff Members For Recovery Performance:
Bad & Doubtful Debts-I ----- 1% of the amount recovered
Bad & Doubtful Debts-I ---- 3% of the amount recovered
Loss --------------------- 5% of the amount recovered
Cash Recovery in ML A/Cs – 5% of the amount recovered over & above 10% of the eligible ML portfolio.
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Henceforth all advances to Retail Trade under Priority Sector would form part of advances to MICRO and SMALL Enterprises.
Loans granted by commercial banks for Agriculture and allied activities are eligible for classification under Priority Sector irrespective of whether the borrowing entity is engaged in export or otherwise.
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Loans to beneficiaries of INDIRA AWAS YOJNA (IAY) under DRI:
Quantum of Loan Other than Housing RS:15000/-
Housing RS:20000/-
Annual Family Income Rural Area RS:18000/-
Urban/Semi Urban RS:24000/-
Ceiling of Land Holding Irrigated 1.00 acre
UN- Irrigated 2.50 acre
Revision in UCO Shelter (COMFORT) Scheme:
Security Norms under UCO Education Loan Scheme:
Upto RS: 4 lacs: Co-obligation of Parents/No Security
Above RS:4 lacs TO RS:7.50 lacs: Co-obligation of Parents/ Collateral Security in form of 3rd party guarantee which may be waived if Net Worth of Parents good.
Above RS:7.50 lacs to RS:10 lacs(India) OR RS:20 lacs (Abroad): Co-obligation of Parents/ Tangible Collateral Security equivalent to full amount of loan/ assignment of future income of the student.
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Cash withdrawal by Self restricted to RS:50000/- per day at non-base branch & No Third Party cash Withdrawal allowed at Non-Base Branch.
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The Agency Commission payable to agency banks by RBI:
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Bank Charges for collection of Outstation Cheques:
Cheque Amount upto RS:10000/- RS:55/- per instrument
Above RS:10000/- RS:110/- per instrument
Above RS:1 lac RS: 165/- per instrument
Bank Charges for collection of Outstation Cheques: (Under Speed Clearing)
Cheque upto RS:1 lac No Charge
Cheque above RS:1 lac RS:165/- per instrument
Bank Charges for Transfer of Funds to Non- Base Branch:
Interacity Fund Transfer FREE
Intercity Fund Transfer
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Less than RS:1 lac RS:6/- per transaction
RS:1 lac to less than RS:5 lac RS:28/- per transaction
RS:5 lac & Above RS:55/- per transaction
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Base Rate effective from 01/07/20110 is presently pegged at 8% which means that bank will not lend below such rate.
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EASIEST (Electronic Accounting System in Central Excise & Service Tax)
CBEC New Delhi has made mandatory e-payment of Excise & Service Tax for the Assesses who make payment of such taxes for more tha RS:50 lacs in a year. For this debits are even allowed from Cash Credit account having debit balances within Drawing Power limit.
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Any Compromise settlement arrived at with any borrower against whom the bank has filed suit before Court/DRT/BIFR is subject to ‘Consent Decree’ from such authorities.
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Duplicate Demand Drafts should necessarily be issued within a fortnight as otherwise the delay shall attract interest at Fixed Deposit rates applicable to corresponding maturity period. The Customer for such purpose would mean Purchaser & Beneficiary only and not the third party holder by endorsement.
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NEFT SYSTEM: To establish a National Electronic Fund Transfer System to facilitate an efficient, secure and expeditious system of funds transfer and clearing in banking sector throughout India & to relieve the stress on the existing paper based funds transfer and clearing system. (INFINET – The Indian Financial Network)
RBI has now permitted Banks to provide remittance upto the amount of less than RS:50,000/- to walk-in customers through NEFT facility against acceptance of cash after collecting full details of the remitter.
KNOW YOUR CUSTOMER NORMS_ (KYC):
For Verification of Legal Names Following Need to be Examined:
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Passport/PAN Card/Voter ID card/Driving License/Identity Card (subject to Bank’s satisfaction)/Letter from recognized Public authority or Public Servant verifying the identity and residence of the customer to the satisfaction of the bank.
For Verification of Correct Permanent Address Following Need to be Examined:
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Telephone Bill/Bank account statement/ Letter from recognized Public authority/Electricity Bill/Ration Card/Letter from employer (subject to satisfaction of the bank).
However Customer identification procedure applicable to Proprietor must entail
Checking proof of name/address & acivity of the concern like registration certificate/license issued by Municipal authorities under Shop & Establishment Act/Sales & Income Tax returns/CST-VAT certificate/registration document issued by Sales-Service-Professional Tax authorities/License issued by the Registering Authorities like Institute of Cost or Chartered Accountants or Company Secretaries of India- Indian Medical Council-Food & Drug Control Authorities etc.
Any two of above documents in the name of the Proprietorship Firm would suffice.
Threshold limit for monitoring of borrowal accounts by Zonal Offices through MCMR - Rs. 5 lac
For accounts with FB + NFB limit of Rs. 5 lac to Rs. 100 lac (both inclusive), the report has to be submitted in the existing format CMR-5A to the Zonal Office by 10th of the succeeding month to which the report relates.
CMR – 5 relates to exposure above Rs. 100 lac
In case of devolved LC/BG, wherein limits / credit balance are not available in Customer’s CC /current Account – payment has to be made by allowing OD in the said CC/current Account. Use of ‘Advance Bills Purchased A/c’ in respect of devolved LCs and use of ‘Devolved Bank Guarantee paid by the Bank A/c’ in respect of invoked Bank Guarantees have been discontinued.
Branch Managers do not have powers of restructuring
In respect of packing credit advances granted to Small Scale exporters (Annual Export turnover not exceeding Rs.50 lakhs) the cover available from ECGC will be 90%. ECGC Premium is payable on a monthly basis @ 7.5 paise per Rs.100/- per month on the average daily product
Instalment in a term loan becomes due and payable on the last day of the month or quarter, as the case may be, unless specified otherwise. Similarly the interest in a credit facility falls due and payable on the date it is applied, monthly in case of all loans except agriculture and half-yearly in case of agriculture loans.
All our ATMs have been provided with 4 Bins/Cassettes for cash. However, only two Bins are in use.
When any customer tries any transaction but cash is not taken within stipulated time, the cash will be diverted to a separate Bin called Purge/Divert Bin. Also, at the time of lodgment of the cash in the ATM, upon performing ‘TEST CASH’, one note of each currency will be diverted in this bin.
ECS (Credit and Debit) operates on T+1 cycle across all locations (‘T’ refers to the date on which ECS files are processed by the ECS centre. Credit or Debit to beneficiary accounts at destination banks is on the next working day).
With effect from 30.12.2008 our bank has joined National Financial Switch (NFS) having 31240 ATMs of 33 Banks across India. Treasury Branch Mumbai (1831) is designated as Nodal Branch for NFS Transactions.
The new RTGS cut off timings for customer and inter-bank transactions are :
Days Customer Transactions Interbank Transactions
Monday-Friday 9.00 hours to 16.30 hours 9.00 hours to 18.00 hours
Saturday 9.00 hours to 13.30 hours 9.00 hours to 15.00 hours
As per directives issued by RBI, Banks have to reimburse to the customers the amount wrongfully debited within a maximum of 12 days from the date of receipt of Customer complaints
In compliance with RBI guidelines all RTGS/NEFT enabled branches to invariably credit RTGS transactions within two hours of receipt of RTGS message and NEFT transactions on the same day of receipt of NEFT message.
Maximum Number of Free Users allowed in Scale I/II/III Branches is 4 and above Scale III is 6.
Liability of the Guarantor and Borrower is co-extensive and not in the alternative and the Creditor has the right to proceed against either the Borrower or Guarantor for recovery of dues. Thus, it is not necessary that the Bank has to exhaust all remedies against the borrower and only thereafter proceedings under SARFAESI can be taken against the guarantor. (supreme court judgement)
The SME segment is broadly classified as under :
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Particulars
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Investment in Plant & Machineries of Manufacturing Enterprises
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Investment in Equipments of Service Sector Enterprises
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Micro Enterprises
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Upto Rs. 25.00 lakh
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Upto Rs. 10.00 lakh
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Small Enterprises
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Above Rs. 25.00 lakh and upto Rs. 500.00 lakh
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Above Rs. 10.00 lakh and upto Rs. 200.00 lakh
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Sub-targets for lending to Micro Enterprises within the Small Enterprises, which are included under Priority Sector lending, are as under :
