ADVANCE AGAINST MOTOR VEHICLES
ADVANCE AGAINST MOTOR VEHICLES
1) Advances shall be made as under :
a) New Vehicles – not exceeding 75% of the Quotation or Invoice
b) Used Vehicles no
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Advance on Government Securities
Advance on Government Securities
1) The General Manager/Manager/Branch Manager is their absence, any other Officer authorized by the Board may advance such loans. Su
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Advance on Plant & Machinery
ADVANCES ON PLANT AND MACHINERIES
1) While granting advances against Plant and Machinery, the Bank should carefully examine the financial conditio
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Advance on Term Deposit
Advance on Term Deposit
Loans may be advanced to the depositors of the Bank on the security of their term deposits with the Bank on the margin fixed by the Board, subject to the
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Bills Purchased/ Discounted
Bills Purchased/ Discounted
1) As the bills purchased/discounted are unsecured in nature, the Bank, has to observe the guidelines issued by RBI from time to regardin
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Gold Advance
ADVANCES ON PLEDGE OF GOLD ORNAMENTS
1) The Gold Contral Order issued by the Government of India under the Defence of India (Amendment) Rules, 1963, has placed certa
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Housing Loan
Housing Loan
1) Housing Loan should be sanctioned to individuals only by mortgaging the proposed construction site or land. The borrower shall have good dealings wit
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Hypothecation on Goods (CC)
HYPOTHECATION ON GOODS (CC)
1) As in hypothecation of goods, the possession of the goods rests with the owner(borrower), the Bank shall have its hypothecation over g
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Mortguage Loan
Mortguage Loan
1) The properties proposed to be mortgaged to the Bank should be evaluated properly by the competent person – civil engineers
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Over Draft
Over Draft
1. Overdraft credit facility is sanctioned to businessmen, traders, professionals etc who have current account with the bank and on the security of immova
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