SALIENT FEATURES
a) Applicable for MSME working capital limits with exposure upto Rs. 10 Lacs.
b) No branch visit required for the borrowers.
c) Consent will be taken from the borrower on SMS.
d) No physical documentation required.
e) Freedom from submission of financials or projections.
f) Hassle free process.
g) Auto CIC check.
h) System will auto check the eligibility of the customer for renewal on the basis of compliance of Business Logics
i) Intimation will be sent to the Borrower through SMS on successful renewal.
j) No manual intervention.
Eligibility Criteria
a) Working capital limits with exposure upto Rs. 10 Lacs where, exposure means O/s or sanction limit whichever is higher for CC limits and O/s with undisbursed amount in TL. Exposure includes advance under MSME sector except GECL.
b) Non Fund Based Facility should not be availed at present.
c) Sales should be routed through the CC/OD account to justify the sanctioned limit.
d) All accounts of the borrower with the Bank should not be NPA category.
e) Date of Documents / Balance Confirmation obtained on (Whichever is later) and documents/BCL is not expired and not older than 24 months as on date of marking renewal.
f) There is no audit/inspection irregularity identified as ZTL /FSI item pertaining to the account pending for rectification.