Standby Line of Credit

• Existing MSME Units having Limits upto Rs.25. crore only with Internal Rating of ‘BBB & above’ and irrespective of external rating.
• Account to be standard. SMA-0, SMA-1 and SMA-2 accounts are also eligible under the scheme.

• Calculation based on 25% of the existing working capital limit or total Exposure (Total Exposure = FBWC + NFBWC). Max Rs.1.25cr based on cash flow statement, certified by CA in case of requirement above Rs.10.00 lakh.
• Existing customers who have availed ‘Mahabank Credit+’ can avail the ‘SLC-MSME’ under this scheme, after repaying the earlier limit under ‘Mahabank Credit+’
• CA certificate to be obtained certifying the outstanding receivables, amount of pending GST dues up to the month for which the returns have been filed.
• Charted Accountant (CA) has to get the Unique Document Identification Number of the certificate issued through the UDIN Portal this UDIN should be mentioned on the certificate issued by the CA and verified by the branch on UDIN portal (https://udin.icai.org) by the Branch official

The borrower can avail the sanctioned amount in one go or in tranches. The entire loan under the scheme have to repaid within maximum period of 12 months from the date of disbursal or validity of sanction whichever is earlier.

1. The facility will be considered as an exposure on the borrower and guidelines stipulated under the RBI Prudential Norms shall be adhered to.
2. The facility shall be made available as Fund Based Limit only.

Nil

• 0.50 % above the sanctioned Cash Credit rate.
• Penal Interest as applicable to Cash Credit account will be charged, if not repaid within the stipulated period.

• As per extant guidelines, to be executed before disbursal.
• ROC Formalities to be completed upon sanction and before disbursement.

Nil