The development of business, Cash Credit Limits are granted against the Hyp.of (Hyp. Stock/ Book debts) Stock and goods.
Such stock should be fully paid. No limits is granted against unpaid stock.
The borrowers are required to submit stock/bookdebts statement every month regularly.
Applicant will have to take insurance in favour of bank.
Applicant is required to submit stock statement creditors list and statement of book-debts on monthly basis and the copy of balance sheet as on 31st march every year.
The repayment of overdraft/ cash credit facility is to be granted to the maximum period of 12 months. It can be renewed subject to approval of Bank’s Management.