1.

Objective

To finance need based working capital requirements of GST registered MSMEs

2.

Eligibility

a. All MSME units engaged in manufacturing/service/trading activity with Udyam Registration

b. Unit avail credit facilities under Sole Banking arrangement only

c. To secure internal credit rating CR-1 to CR-4

d. The borrower should be in possession of requisite registration under GST Act viz. i.e. Provisional Registration (Form GSTREG-25) or Final Registration (Form GSTREG-06)

e. Must have filed last 12 month GST returns (Either monthly or annual return) with exception to newly established MSME units where the requirement is filing of GST return for minimum 3 months (monthly return) or for minimum one quarter (quarterly return)

f. Minimum 80% of the turnover in Current/ CC accounts should be against the sales mentioned in the GST Return.

3.

Facility

Working Capital (Fund Based & Non-fund Based)

4.

Quantum

Minimum: Above Rs 10 lakh

Maximum: Rs 5.00 Crore

5.

Assessment

30% of the annualized projected turnover based on Sales as per GST return and/or turnover routed in the account.

6.

Margin

20%

7.

Security

Primary: Hypothecation of Stock & book Debts

Collateral: Starting from 50% linked to internal rating & CMR