Scope of the Scheme
To meet the credit needs of contractors engaged in execution of civil engineering contract works awarded by BMC/Civic Agencies operating in Brihan Mumbai Metropolitan Region
All categories of the applicants irrespective of their constitution, engaged in execution of civil engineering contracts.
Entry Level Norms
- Registered contractors of BMC/Civic Agencies operating within the Greater Mumbai Metropolitan Region.
- Registration of our Bank Accounts with BMC/Civic Agencies.
Cash Credit (H) Facility - Towards normal day-to-day WC needs.
Bank Guarantee - For issuance in favour of BMC / Civic Agencies Solvency Certificate – for participating in tenders.
Exposure Ceiling Norms
- Scheme specific constitution-wise exposure ceiling norms in respect of applicants falling under the category of Proprietary Concerns & Partnership Firms, Trusts & Societies is stipulated uniformly at Rs.40.00 crores,
- Mobilization Advance Guarantee shall generally be restricted to 20% of total BG facility in the normal course. Relaxations in sub ceiling can be considered with the specific approval the ED.
- Cash Credit Facility:
- 25% of chargeable current assets
- Bank Guarantee:
- Cash margin not lower than 10% (within the band width of 10% - 25%).
- Market value of properties not below 15% of BG facility.
- 100% cash margin in case of guarantees covering disputes, court cases etc.
Rate of Interest
- As per CMR & CR guild lines