एमएसएमई खण ड: एसएमई कन क ट ऋण य जन : स श धन

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1 ecircular Dept :SMALL AND MEDIUM ENT DEPT Sl.No:Serial No. 666/13-14 Circular No. SME/43/ December 2013 All Branches /Controlling Authorities and Departmental Heads at Head Office/ Centralised Processing Centers MSME SEGMENT: SME CONNECT LOAN SCHEME: MODIFICATIONS प रप म क- एसएमई/43/ द न क: 26/12/2013 एमएसएमई खण ड: एसएमई कन क ट ऋण य जन : स श धन एसएमई कन क ट ऋण य जन प रप स ख य एसएमई/27/ दन क 18/10/2013 र प नर क षत क गई य जन वतर म न म एमएसएमई खण ड अथ र त स म एव लघ उ म क स थ-स थ मध यम उ म ( थ मक क ष ) क लय दन क 30/09/2014 तक ल ग ह स श धत भ रत य रजवर ब क दश नद श:- भ रत य रजवर ब क क अ धस चन म क आरप स ड.स ओ.प ल न.ब स 59 / / दन क 25/11/2013 क अन स र दन क 13/11/2013 क पश च त दय गय अ म क नम न णय (क वल दन क 31/03/2014 तक) थ मकत प त क ष म स म म लत क गई ह, ज स क हम र प रप म क एसएमई/35/13-14 दन क 03/12/2013 र नद शत कय गय ह :- i) मध यम उप म ( व नम र ण) ii) iii) मध यम उप म (स व क ष )-र कर ड़ क स म तक स म एव लघ उप म (स व क ष )- र कर ड़ क स म तक (वतर म न स म र.5.00 कर ड़ स बढ़कर) इस लय, उपर क त खण ड क लय भ तस प उत प द स त वत करन आवश यक ह थ मकत प त क ष क ल य क प त करन तथ स वर ज नक क ष क ब क स हत अन य ब क र स त वत तस प र त मक ब य ज दर क ध य न म रखत हए य जन क नम न शत म स श धन करन क नश चय कय गय ह :- 1) ब य ज दर:- मध यम उप म क भ आक षर त करन क लय वतर म न ब य ज दर क स श धत कय गय ह इसक अ त रक त त य वषर क लय ब य ज दर म रय यत क स श धत कय ह वतर म न एव स श धत ब य ज दर नम न क र ह :- सरक लर हन द -ब एलब न य -प ज स.1

2 ब य ज क वतर म न दर स श धत ब य ज दर अव ध द.31/03/14 तक स व क त ऋण ह त एमएसई( थ मक) एमई एमएसई एमई ( थ मक)* ( थ मक)* थम वषर क लय 11.25% तवषर 11.75% तवषर 11.25% तवषर (अप रव तर त) 11.25% तवषर (प रव तर त) त य वषर क लय (अ) र. 10 ल ख एव अ धक ल कन र. 25 ल ख स कम (अनर ट ड ऋण ) (ब) र. 25 ल ख एव अ धक (र ट ड ऋ णय क लय ) (स व क त क त थ स 1 वषर क लय स थ ई) आध र दर % अथ र त 12.00% तवषर (क डर दर स 100 ब प एस कम) 1) एसब ब ज 1 स 5-क डर दर स 50 ब प एस कम 2) एसब ब ज 6 स 10-क डर दर स 100 ब प एस कम 3) एसब ब ज 11 स 16- क डर दर पर (स व क त क त थ स 1 वषर क लय स थ ई) आध र दर % अथ र त 12.00% तवषर (क डर दर स 100 ब प एस कम) (अप रव तर त) 1) एसब ब ज 1 स 5-क डर दर स 75 ब प एस कम (प रव तर त) 2) एसब ब ज 6 स 10- क डर दर स 150 ब प एस कम (प रव तर त) 3) एसब ब ज 11 स 16- क डर दर पर (अप रव तर त) * थ मकत प त क ष क अन तगर त प अ म क आध र पर दन क 01/04/2014 स स व क त ऋण क लय ब य ज दर, क लम-2 म न दर ष ट वतर म न ब य ज दर क अन स र ह ग 2) ऋण क उ श य:- य जन क उ श य क, भ म क श मल करत हए, नम न क र स श धत कय गय ह बशत भ म, प रय जन क एक अहम हस स ह :- य जन क उ श य वतर म न दश नद श 1) वत त य आवश यकत ओ क लय स व ध ऋण :- प ल न ट एव मश नर / उपकरण / उपस कर / जनर टर स ट एव फ क क लय भवन नम र ण, शक षण स स थ ए, अस पत ल, ह टल आ द (भ म क छ ड़कर) 2) च ल आ स तय क वर क यर श ल प ज क आवश यकत स श धत दश नद श 1) वत त य आवश यकत ओ क लय स व ध ऋण :- प ल न ट एव मश नर / उपकरण / उपस कर / जनर टर स ट एव फ क क लय भवन नम र ण, शक षण स स थ ए, अस पत ल, ह टल आ द प रय जन क भ म हस स क लय भ अ म दय ज सकत ह बशत भ म, प रय जन /इक ई क एक अहम हस स ह (प रव तर त) 2) च ल आ स तय क वर क यर श ल प ज क आवश यकत (अप रव तर त) य जन क अ तन शत एव दश ए अन लग नक थम क अन स र ह सरक लर हन द -ब एलब न य -प ज स.2

3 श ख ए / वपणन ट म/ नय क धक रय क स चत कय ज त ह क व य जन क अ धक धक च र स र कर तथ य जन क आकषर क वश षत ओ एव तस प ब य ज दर क ध य न म रखत हए अ धक धक व यवस य प त कर क पय तदन स र म गर नद शत ह व तथ इस प रप क वषयवस त क कड़ ई स अन प लन क लय समस स ट फ सदस य क ध य न म ल व तथ सम ब न धत प रप पर इस प रप क तस दभर अ कत कर (प पय स नग प त ) मह बन धक (व य क एव स व ब क ग, स म लघ एव मध यम उप म, म ण ब क ग एव व य सम व शन) सरक लर हन द -ब एलब न य -प ज स.3

4 Circular No. SME/43/ Date: 26/12/2013 MSME SEGMENT: SME CONNECT LOAN SCHEME: MODIFICATIONS SME Connect Loan Scheme was last reviewed vide circular no. SME/27/ dated 18/10/2013. The Scheme is presently applicable to MSME segment i.e. on Micro & Small Enterprises as well as Medium Enterprises (Priority Sector) till Revised RBI Guidelines As per RBI Notification No. RPCD.CO.Plan.BC 59/ / dated 25 th Nov.2013, the following category of advances extended after 13/11/2013, would qualify as priority sector advances (only up to 31/03/2014), as circulated vide our Cir. No.SME/35/ dated : i) Medium Enterprises (Mfg.) ii) Medium Enterprises (Services) - limits up to Rs.10 crore iii) MSE (Services) - limits up to Rs.10 crore (enhanced from existing ceiling Rs.5 crore) Therefore, there is necessity to offer competitive product for above segment also. In order to facilitate achievement of PSL targets and in view of competitive interest rate offered by other banks including PSBs, it has been decided to modify the Scheme in terms of followings :- (i) Rate of Interest :- Existing interest rates have been modified to attract Medium Enterprises also. Besides, concession for 2 nd year in interest rate has been improved. Existing & Modified interest rates are as under : Modified Rate of Interest for Existing Rate of Interest Period sanctions till MSEs(Prio) MEs MSEs(Prio)* MEs(Prio)* (1) (2) (3) 11.25% p.a % p.a % p.a % p.a. For 1 st Year For 2 nd Year (a) Rs. 10 lac & above but < Rs. 25 lac (unrated borrowers) (b) Rs. 25 lac & above (for rated borrowers) (Fixed for one-year from the date of sanction) BR+1.75% i.e. 12% p.a. (100 bps below card rate) i) SBBJ 1 to 5-50 bps below card rate ii) SBBJ 6 to bps below card rate iii)sbbj 11 to 16 - at card rate (No change) (change) (Fixed for one-year from the date of sanction) BR+1.75% i.e. 12% p.a. (100 bps below card rate) (No change) i) SBBJ 1 to 5-75 bps below card rate (change) ii) SBBJ 6 to bps below card rate (change) iii) SBBJ 11 to 16 - at card rate (No change) *Subject to advances being eligible under Priority Sector. For sanctions w.e.f , the interest rates would be as per existing rate of interest in column 2 (ii) Purpose of Loan:- The purpose of the loan has been modified to include land also, if it is an integral part of the project cost. सरक लर हन द -ब एलब न य -प ज स.4

5 Purpose in the Scheme Existing Guideline i)term Loan for Funding requirements of : Plant and Machineries /Equipments /Tools/Gen Sets and construction of building for factory, educational institutions, hospitals, hotels etc.(excl. land) ii) Working capital requirements against Current Assets. Modified Guideline i)term Loan for Funding requirements of : Plant and Machineries / Equipments /Tools/Gen Sets etc. and construction of building for factory, educational institutions, hospitals, hotels etc. Land component of the Project, may also be financed, subject to land being an integral part of the Project/Unit. (Change) ii) Working capital requirement against current assets. (No change) The updated terms and conditions of the Scheme are as per Annexure-I. The branches/marketing team/controlling authorities are advised to publicize the Scheme extensively and tap maximum business keeping in view the competitive rate of interest and attractive features of the Scheme. Please be guided accordingly and bring the contents of the circular to the notice of the staff for meticulous compliance. Please also make a cross reference of this circular on the circular referred above. (Papia Sengupta) General Manager (P & SB, MSME, Rural Banking & Financial Inclusion) सरक लर हन द -ब एलब न य -प ज स.5

6 Annexure-I SME CONNECT LOAN SCHEME : TERMS AND CONDITIONS S.No. Particulars Up-dated SME Connect Scheme 1 Facility Working Capital (Cash Credit)/ Term Loan 2 Purpose i)term Loan for funding requirement of : Plant and Machineries / Equipments /Tools/Gen Sets etc. and construction of building for factory, educational institutions, hospitals, hotels etc. Land component of the Project, may also be financed, subject to land being an integral part of the Project/Unit. ii) Working capital requirement against current assets. 3 Eligibility 1. All existing accounts satisfactorily conducted and eligible for taking further exposure will be eligible for new term loan. 2. The existing term loan borrowers, who have not availed working capital facility during last one year, will be eligible for working capital facility under the Scheme. 3. Take over of loans/advances from other Banks and potential/new borrowers, who have not availed any credit facility from our bank during last one year, will be eligible for takeover of existing as well as new term loans and working capital exposure. Other bank s customers may be taken over subject to take over norms. 4. Existing borrowers who have availed loan under the SME Connect Loan Scheme may also take new term loans in SME Connect Loan Scheme at concessional rates in terms of interest and upfront fee. The enhancement in working capital will not be permitted under the SME Connect Loan Scheme and entire working capital will attract normal applicable rate of interest. 4. Activities All MSME (Prio) eligible activities as per MSMED Act, 2006 and RBI/Bank guidelines on MSME activities & exposure eligible for Priority Sector. As per RBI notification no. RPCD.CO.Plan.BC.59/ /13-14 dated Nov , following categories of advances extended after Nov.13, 2013 will be included in priority sector lending classification, only up to : i) Medium Enterprises (Mfg.) ii) Medium Enterprises (Services) - limits up to Rs.10 crore iii) MSE (Services)- limits up to Rs.10 crore (enhanced from existing limit of Rs.5 crore). 5 CRA rating 1. In case of new units- SBBJ-9 or better, and 2. In case of take over - SBBJ-6 or better 6 Loan Amount Minimum Rs lacs, Maximum of Rs crore (Excluding existing exposure other than the proposed loan under the Scheme i.e. existing exposure and loan proposed under the SBBJ-SME Connect product may exceed Rs Crore). Total exposure under the Scheme i.e. term loan and working capital should be clubbed for the purpose. 7 Margin Minimum margin 20% to 25 %. Sanctioning authority may prescribe higher margin in case of book debts and construction of factory. 8 Security Primary First charge over entire current /fixed assets of the borrower. सरक लर हन द -ब एलब न य -प ज स.6

7 Collateral Security: In case of loan exceeding Rs. 1 crore: Collateral security as applicable to SME loans looking to loan amount and the credit risk category (CRA rating) of the borrower. CGTMSE cover is mandatory up to Rs.1.00 Crore as per SME/40/ dated 13/12/2013.(Excluding take over cases where take over cases would apply) In case of loan eligible for SME Saral Loan Scheme the criteria of collateral security (Mortgage), will be as per SME Saral Loan Scheme. 9. Rate of Interest 10 Loan. Processing Charges As per annexure-ii 50% Concession in normal applicable processing charges as applicable to SME loans, for first year (i.e. the concession will not be available for subsequent renewal/ enhancement of working capital limits). However, wherever it is necessary the competent authority may extend concession in the normal applicable processing charges on case to case basis as per their delegation of powers prescribed even after one year. (100% Concession in processing fee on take over component of working capital) Upfront fee Prepayment penalty 50% Concession in normal applicable Upfront fees as applicable to SME loans. (100% Concession in upfront fees on take over component of term loans). As per cir. no. CPPD/21/ dated 02/11/2013 and subsequent circulars issued from time to time. 13. Deviation Deviation may be permitted on case-to-case basis as per Circular no. Reorg/05/13-14 dated 10/08/2013 followed by Reorg/01/13-14 dated 04/05/ Miscellaneous 1. Borrowers may also be permitted non-fund base facilities. However, non-fund facility will not be reckoned for considering maximum limit of Rs crore. ZOCC may consider relaxation in commission for issuance of LC/BG not exceeding 25% of the applicable charges for the loans sanctioned by the authority upto ZOCC. 2. SME Saral eligible accounts will be maintained as per SBBJ-SME Connect Scheme for one year and thereafter accounts will be shifted to as per SME Saral Loan Scheme. The loan may be appraised as per SME Saral Loan Scheme. However, relaxation in rate of interest and operational convenience like submission of stock statement, periodic inspection relating to SME Saral Loan Scheme will apply after one year only. 3. Loan under SME Saral Loan Scheme will be considered upto Rs.20 crore only. Except relaxation in appraisal and rate of interest as per SME Connect for one year and as per SME Saral Loan Scheme after one year, no other benefit will be available to SME Saral Loan eligible borrower. सरक लर हन द -ब एलब न य -प ज स.7

8 Existing product for SME priority sector BRCC SME CONT PRIO SSI BRCC SME CONT PRIO SBF BRCC SME CONT PRIO C&I BRTL SMECONT PRIO SSI BRTL SME CONT PRIO SBF BRTL SMECONT PRIO C&I New Products for ME category up to BRCC ME CONT PRIO SSI UPTO 10 CRORE BRCC ME CONT PRIO SBF UPTO 10 CRORE BRCC ME CONT PRIO C&I UPTO 10 CRORE BRTL ME CONT PRIO SSI UPTO 10 CRORE BRTL ME CONT PRIO SBF UPTO 10 CRORE BRTL ME CONT PRIO C&I UPTO 10 CRORE Products for ME category w.e.f BRCC SME CONT NON PRIO SSI BRCC SME CONT NON PRIO SBF BRCC SME CONT NON PRIO C&I BRTL SMECONT NON PRIO SSI BRTL SME CONT NON PRIOSBF BRTL SMECONT NON PRIO C&I ******* सरक लर हन द -ब एलब न य -प ज स.8

9 Annexure-II INTEREST RATE : SME CONNECT LOAN SCHEME (A) RATE OF INTEREST APPLICABLE UP TO (TO BE DISBURSED ON OR BEFORE ) For 1 st Year For MSEs(Prio) For MEs(Prio) (Fixed for one year from date of sanction) 11.25% p.a % p.a. Both for W.C. & Term Loan For 2 nd Year Linkage with Card Rate WC & TL (Less than 3 Yrs.) Term loans 3 Yrs & above (a) Rs. 10 lac & above but < Rs. 25 lac 12% p.a % p.a. 100 bps below card rate (for unrated borrowers) (b)rs. 25 lac & above (for rated borrowers) SBBJ-1 & SBBJ-2 75 bps below card rate 11.50% p.a % p.a. SBBJ-3 to SBBJ-5 75 bps below card rate 12% p.a % p.a. SBBJ-6 & SBBJ bps below card rate 11.75% p.a. 12% p.a. SBBJ-8 & SBBJ bps below card rate 12% p.a % p.a. SBBJ bps below card rate 12.75% p.a. 13% p.a. SBBJ-11 to SBBJ-16 At card rate 16.25% p.a % p.a. (B). RATE OF INTEREST APPLICABLE FOR SANCTIONS W.E.F : Period For 1 st Year For 2 nd Year (a) Rs. 10 lac & above but < Rs. 25 lac (unrated borrowers) (b) Rs. 25 lac & above (for rated borrowers) Existing Rate of Interest MSEs(Prio) MEs 11.25% p.a % p.a. (Fixed for one-year from the date of sanction) BR+1.75% i.e. 12% p.a. (100 bps below card rate) i) SBBJ 1 to 5-50 bps below card rate ii) SBBJ 6 to bps below card rate iii)sbbj 11 to 16 - at card rate Under the Scheme, concession as above in interest rate for 2 nd year will not parameterize. Thereafter change in rate of interest is to be done manually, wherever applicable. Branch may propose concession in interest rate for 3 rd year also. The proposal to be put up to competent authority, 2 months before the end of 2 nd year. SME Connect Borrower who otherwise eligible under SME Saral Loan Scheme will be charged rate of interest as applicable to SME Saral Loan Scheme at the end of one year, Provided that the interest payable by the borrower shall be subject to the changes in interest rates made by the Reserve Bank of India from time to time. ***** सरक लर हन द -ब एलब न य -प ज स.9