S. No.

Parameter

Guideline

1

Objective

To provide credit card to the identified MSME units within the sanctioned Fund Based Working Capital limit to meet business operational expenses through digital delivery channel.

2

Eligibility

a) Unit to be classified as MSME irrespective of constitution as per revised definition and shall have Udyam registration

b) Unit must be our existing borrower with sanctioned FB WC limit (CC/OD) of above Rs 1 Lakh.

c) Account shall not be under stress category/overdue for review/renewal at the time of sanction of Union MSME Credit Card.

d) CIC score of the individual on whose name credit card is being issued shall be minimum 700/-1(in case of customers with no credit history).

3

Purpose

Towards meeting operational expenses related to business. Not be used for personal purpose. Usage of credit card may be restricted by Bank on select Merchant codes (MCC Code) (Gambling, Jewellery etc) based on the line of activity of the borrower.

4

Banking Arrangement

Sole/Multiple Banking

5

Nature of Facility

Credit Card shall be issued for a portion of assessed FB WC facility and the remaining amount shall be made available in the form of CC/OD in Finacle.

6

Quantum of the loan to be issued as Credit Card

20% of sanctioned FB WC limit with minimum of Rs 20,000/- and maximum of Rs.2.00 lakh.

7

Security

Though Credit Card and regular CC/OD limit are being issued separately within the overall sanctioned CC/OD limit, the charge on securities (primary/collateral) shall be for entire working capital limit sanctioned including credit card.

8

Assessment

Credit Card Limit will be for a portion of assessed Fund Based Working Capital limit. Hence, no separate assessment is to be made. (MSME policy instead of Credit Card Policy shall be applicable for assessment of the limit.)

9

Interchangeability

No interchangeability between Credit Card and CC/OD limit and both shall be operated separately.

10

Type of Card

Rupay Select variant of NPCI