Working Capital finance in the nature of Cash Credit facility on revolving basis.
To provide adequate & timely credit for comprehensive requirements of the Khatamband Craftsmen.
Artisans associated with the Khatamband trade.
The age of the applicant must be between 18-55 years
The total credit should not exceed 1,00,000/- per Unit*. The amount of loan shall be as per the estimate of cost per head/month
*A Khatamband unit is comprised of at least 4 craftsmen.
20% of the amount sanctioned.
|Hypothecation of stocks (Raw materials, semi- finished & finished goods) created out of Bank finance.|
|Third party guarantee of two persons, preferably fellow unit-holders.|
The account must be brought into credit at least once a year. However, interest shall be serviced on monthly basis.
Comprehensive insurance of hypothecated stocks.
0.05% of the amount sanctioned with a minimum cap of 25/- to be paid upfront.
The limit under the scheme shall be reviewed annually and revised/ cancelled /enhanced depending on the performance of the borrower