Baroda Contractor Scheme Mumbai

Features
Most Important Terms and Conditions (MITC)
Interest Rates and Charges

Baroda Contractor Scheme Mumbai : Features

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.

Note :The Bank may use the services of agents in sales/marketing etc. of its various products.

Baroda Contractor Scheme Mumbai : Most Important Terms and Conditions (MITC)

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

Overdraft: 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.