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Eligibility
All enterprenurs who are otherwise eligible for sanction of working capital/Term loan for eligible activities defined under Artisans ,Village industries Small Scale Industrial units & Tiny units ,Small business, Professionals & Self employed persons, Retail traders having 3 years satisfactorily conducted account and New accounts where adequate collateral security is available.
Purpose
To meet credit requirement of above sectors including Working Capital / Term Loan.
QUANTUM OF ADVANCE
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Retail Trade
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Max.Rs.10 lakh(including TL/WC)
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Professional & Self Employed
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Rs. 10 lakh( max. WC 2 lacs Medical Practitioners (Semi urban/rural area)max-15 lakh(WC-Rs 3 Lakh)
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Small Business
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Maximum Rs.20 lakh(includingWC/TL)
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Artisans, village industries, SME(manufacturing units) & Tiny Units
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Maximum limit upto Rs.10 lakh(including TL/WC )
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INCENTIVES:
1 Automatic overlimit of 25%of working capital for 90 days subject to availablility
2 Concession in rate of intrest of 0.50%for limit over Rs. 2 lakhs
3 20% increase in the limit on annual review may be permitted to customers having satisfactory conduct of account.
4 Maximum limit upto 20% of sales turnover as per Balance sheet or on the basis of credit in WC account can be allowed.
Validity
LUTC will be valid up to 1 year & renewable after 1 year
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