The Scheme presents a structured product to financially assist the MSME borrowers
who often suffer from non-availability of timely credit facilities to meet their
following business requirements:
To meet the temporary liquidity mismatches
To hold sufficient level of stock of seasonally available raw materials
To avail higher cash discount opportunities on procurement of raw materials
To execute unanticipated bulk orders
To meet expenses on marketing, R&D etc.
To meet expenses related to product development
To undertake product branding exercise
The purpose of credit facility will have to be specified along with an undertaking
that credit facility will not be used for any speculative purpose whatsoever
including speculation on real estate and equity shares.
Eligibility
Micro, Small & Medium Enterprises (MSMEs) engaged in the manufacturing and
services sector. The existing MSMEs with good track record as well as new MSMEs
having satisfactory Due Diligence Report.
The MSME may be an Individual, Proprietor, Partnership firm, Private/Public
Limited Company, Co-operative Society.
Borrower / applicant must have either sales tax / GST registration or
trade/business license/permit issued by competent Statutory Authority /
Recognized body, audited balance sheet, ITRs supported by computation of income.
Udyam Registration is mandatory.
Credit facility against agricultural property is strictly not permitted.
Credit facility shall not be permitted against security of immovable property
where Educational / Religious Institutions are located.
Vacant land may preferably not be taken as security under the scheme.
Quantum of Finance
Minimum: Above Rs. 10 lakh Maximum: Rs. 15.00 Cr
Quantum of Finance is subject to margin available
Need based credit facility with maximum of 75% of realizable value of immovable
property or upto 90% (refer point no. 5 regarding margin on security) of the value
of financial assets such as NSCs / Bank’s Own Deposits / LIC Policies.
Sanctioning authority to ensure that there is no diversion of funds or
overtrading.
Credit facilities under the Scheme may be extended as composite facility or as
single component.
The running account component in the form of overdraft facility is restricted
to Rs. 2 Cr within the overall limit; however, term loan as single component can
be considered up to Rs. 5 Cr.
Need based enhancement of ODP limit is permissible only after one year of
sanction / last renewal.
For Term Loan: @1% of the loan amount with Minimum of Rs. 2000/-
For Overdraft Facility: @0.50% of limit sanctioned and to be collected
on sanction and at the time of renewal every year.
Repayment
For Term Loan: Maximum upto 7 years
For Overdraft: Repayable on demand. Interest shall be recovered immediately
when due.
Guarantee
In case the properties offered as security are standing in the name of person(s)
other than the borrower (as permissible under the scheme), the personal guarantee
of all such owners / co-owners shall be obtained.
As per extant guidelines, in case of sole proprietorship concerns guarantee of
wife / major son(s) and in case of Firm / Companies, guarantee of Partners /
Directors is mandatory.
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“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
General Manager-IT,
Punjab & Sind Bank
Internet Banking
Dear customers,
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
