Cent Rice Mill

Purpose

The scheme is aimed to provide finance to Rice Mills and Rice Shelling units.

Eligibility*

Profit making existing units with vintage of minimum 3 years existence (Brown Field), New units

Nature of facility

Working Capital/TL/Packing credit/Non Fund Based Limit LC and LG

Margin

 

Fund Based :  Minimum 20%

Non Fund Based : Minimum 10%

Quantum of Loan

Minimum : Rs 5.00 Crore (Fund Based CC +TL)

Maximum: RS 100.00 Crore

Interest Rate

 

As per Internal Rating :

Rating Category

Repo

Spread

CRP

Effective Rate

CBI -I TO CBI - III

6.25

1.70

0.00

7.95

CBI – IV

6.25

1.70

0.10

8.05

CBI – V

6.25

1.70

0.20

8.15

CBI – VI

6.25

1.70

0.30

8.25

Repayment

 

Working Capital : Maximum period of 12 Months – Annual Renewal

Term Loan : Door to Door tenure 10 years. (including moratorium period of Maximum up to 12 months) 

Security*

Primary Security : Hypothecation of Stocks and receivables and all assets created out on Bank’s fund.

Collateral Security :

Up to Rs 5.00 Crore : If advance cover under CGTMSE no collateral is required.

Above Rs 5.00 Crore :

A) SARFAESI compliant collateral security minimum 50% of loan amount in case of brown field borrowers with vintage of 5 years and more.

B) SARFAESI compliant collateral security minimum 75% of loan amount in case of brown field borrowers with minimum vintage of 3 years but less than 5 years.