PNB SME Sahayog Scheme
PNB SME Sahayog Scheme
PNB SME Sahayog Scheme provide financial assistance to meet unforeseen expenditure of SME Enterprises having good track record. Punjab National Bank (PNB) is India’s first Swadeshi Bank which commenced its operations on April 12, 1895 from Lahore, with an authorised capital of Rs 2 lac and working capital of Rs 20,000. Today, with a network of over 6690 branches and 9463 ATMs, PNB is among the largest nationalised banks in India.
For contingencies like additional purchase of raw material including packing material/ handling charges for the execution of bulk orders, taking part in national / international trade exhibition, payment of consultancy charges, machinery repair, labour payments, etc.
Existing borrowers whose accounts have been classified as standard assets for the last three consecutive financial years and are enjoying credit limits above Rs. 20 lakh. For term loans & working capital of above Rs. 20 lakh, the threshold credit rating should be ‘BB’ (on the closing of previous financial year). Credit risk rating for any of the earlier years should not be below “B”.
Amount of Loan
The facility is extended by way of clean cash credit limit. Special credit limit for an amount equal to 20% of the aggregate working capital limits (i.e. fund based and non fund based separately), subject to a maximum of Rs. 25 lakh. A simple assessment will be made by computing 20% of the aggregate cash credit working capital limits (i.e. limits against stock and bills put together) or Rs.25 lakh which ever is lower.
The borrowers are free to utilize the facility upto 12 times in a year. Each amount of withdrawal is repayable within maximum period of two months and there should be a gap of 15 days between the date of complete repayment of outstanding and the next withdrawal. SECURITY Collateral security to be obtained as per bank’s extant guidelines. The charge on available security by way of primary/ collateral to the existing sanctioned limits will be extended to cover the clean cash credit limit.
Income Tax eFiling
We have made the Income Tax eFiling, simple and easy. File your income tax return online with the dedicated Tax Experts support from IndiaFilings.
IndiaFilings.com (ERI ID: ERIA100945) is an Income Tax Department authorised eReturn Intermediary.