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Bank of Baroda meets the credit needs for Mumbai contractors.

Baroda Contractor Scheme Mumbai

  • Features
  • Terms and Conditions
  • Interest Rates and Charges
Scope of the Scheme

To meet the credit needs of contractors engaged in the execution of civil engineering contract works awarded by BMC/Civic Agencies operating in Brihan Mumbai Metropolitan Region.

Constitution Coverage

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.

Nature of Facility

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 and societies are stipulated uniformly at Rs. 40 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 of the ED.

Margin Standard

Cash Credit Facility:

  • 25% of chargeable current assets.

Bank Guarantee:
  • Cash margin not lower than 10% (within the bandwidth 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.

As per CMR and CR Guidelines.

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