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Parameter Norms
Applicability ·      MSME / Business Enterprise (non-MSME) borrowers & PMMY borrowers.

·      Total outstanding credit (Fund Based) should not exceed Rs. 50 Crores as on 29.02.2020.

·   The account should not be in SMA 2 or NPA.

·      GST registration is mandatory unless exempted from GST registration.

·      If the borrower is having facility with other Banks/Financial Institutions/NBFCs, the consolidated balance outstanding as on 29 02 2020 should not exceed    Rs. 50 Crores and a/c should not be in SMA2 or NPA with any Banks/Financial Institutions/NBFCs.

Purpose To meet working capital requirements of the unit.
Nature of facility Working Capital Term Loan.
Loan amount Upto 20% of the outstanding credit  as on 29.02.2020   (subject to Maximum: Rs. 5 crore)
Repayment Period a)    Maximum 48 months (Door to Door)

b)    Holiday Period : 12 months

c)    Holiday period interest is to be serviced as and when debited i.e, monthly.

Repayment Period: 36 months – Repayable in 36 EMIs from 13th month onwards

Security a)    Charge over floating and fixed assets to be created out of this loan proceeds.

b)    Extension of existing current assets and fixed assets (Primary and Collateral).

c)    No additional collateral to be insisted.

Processing Charge        Nil
Interest Rate a)    MSME/ Mudra Business enterprises & Other Business enterprises(Priority) : Presently: 7.50% p.a.

b)    Other Business enterprises (Non-Priority) : Presently : 8.35% p.a.

Rate of interest will not exceed 9.25% during the entire tenure of the loan.

Credit Guarantee 100% Guarantee cover under “Emergency Credit Line Guarantee Scheme” of National Credit Guarantee Trustee Company (NCGTC) is available for the GECLS exposure
Guarantee Fee Nil
Other details
Acceptable Mode of Submission of Request for Credit facility By E Mail / In-Person to the Branch
Documents required Duly filled in Application for IND GECLS
Helpline Numbers & Email ID for queries, facilitations and Grievances. Email:
Timeline for appraisal, sanction, documentation / disbursement Within 6 working days from the date of receipt of application by Branch.

( Last modified on Sep 03, 2022 at 07:09:01 PM )