Time Limit

Acknowledgments for receipt of the loan application by branch by affixing date stamp.

Time Norms for disposal of loan applications:

Limits Time Limit for Disposal
a) Sanction of fresh / enhanced credit limits:
- Loans Up to Rs. 5 Lakhs
- Loans over Rs. 5 Lakhs and less than Rs. 25 Lakhs
- Loans over Rs. 25 Lakhs
Within 2 weeks
Within 3 weeks
Within 6 weeks
b) Renewal of existing credit limits Within 2 weeks
c) Sanction of ad-hoc credit limits Within 7 Days
  • from the date on which all clarifications / information required for processing the loan proposals are received by respective sanctioning authorities.
  • No collateral security: for advances upto Rs. 10 Lakhs under MSEs Sector.
  • Loan quantum: Minimum 20% of projected annual sales turnover (Nayak committee norms) for the working capital requirement. Margin Money Requirement (Contribution by the Borrower).
  • Concession in Processing charges / upfront fees: 75% of the applicable charges to be collected.
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