|Purpose||To build up current assets and to meet operational liabilities and restart the business|
1. Our existing customers whose limits are in force as on date of sanction, irrespective of risk rating.
|Nature of Loan||Working Capital term loan|
|Quantum of Loan||
Quantum of loan to eligible borrowers in the form of additional working capital term loan facility would be up to 20% of their total outstanding loans as on 29Feb 2020. The maximum permissible loan under Vikas Parihar Scheme is up to Rs 20 Crore only, Subject to the borrower meets all the eligibility criteria.
|Repayment Period||a) The maximum tenor of loans provided under Vikas Parihar shall be for 4 years from the date of disbursement.
b) Moratorium period of one year on the principal amount shall be provided during which interest shall be payable
c) The principal shall be repaid in 36 installments after the moratorium period is over.
d) No pre-payment penalty to be charged in case of early repayment.
|Primary Security||The assets created out of the credit facility so extended|
|Collateral security||No fresh collateral security to be insisted. However, existing security to be extended|
|Gaurantee||No corporate Guarantee/personal guarantee / third party guarantee/ extension of previously furnished guarantee / Fresh guarantee to be obtained for GECL accounts under Vikas Parihar.|
|Validity of Scheme||Up to 31.10.2020|
|For more details||Contact Branch|