bob Nari Shakti

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

In accordance with the directives issued by MoRD, Bank is introducing a new lending scheme “BOB NARI SHAKTI” for enterprise financing to women SHG members of the DAY NRLM SHG.

Benefits
Features
Eligibility Criteria
Document Required
Fees & Charges
Most Important Terms & Conditions (MITC)

bob Nari Shakti : Benefits

Collateral free Advances upto 5.00 Lakhs*
Nil Margin for Advances upto 1.00 Lakhs
No prepayment charges
2% Interest subvention on outstanding upto 1.5 Lakhs per borrower on prompt repayment.
*Collateral free loans are available under Credit Guarantee Fund for Micro Units (CGFMU).

bob Nari Shakti : Features

To facilitate the scaling up, expansion, and modernization of commercially viable micro-enterprises led by women.
To facilitate technology upgradation and enhance market access.
For undertaking marketing initiatives, branding, and establishing linkages with local and regional markets to manufacture & sell their products.
To support the development and expansion of traditional handicrafts or cottage industries, including providing funds for procuring raw materials and facilitating marketing efforts.
For Purchase of equipment or machinery that can enhance productivity and efficiency in women-led enterprises.

bob Nari Shakti : Eligibility Criteria

SHG Woman micro entrepreneur member should be a member of select matured well performing SHGs under DAY-NRLM Scheme. Matured well performing SHG is one which is more than 2 years old and have accessed at least one dose of loan from our Bank with timely repayment.
SHG Woman micro entrepreneur in Rural Area shall be identified by NRLM.
The age of SHG Woman Member should be 18 years and above and upto 65 Years.
She should not be a defaulter of any bank /financial institution.
She should be running a viable economic enterprise for which she should not have availed loan from any other Bank/FI for the said activity.

bob Nari Shakti : Document Required

Application form
KYC Docs
Passport sized Photographs
P. Note
Letter of Attestation
Composite Hypothecation Agreement
Letter of Instalment with Acceleration Clause
Letter of continuing Security
Declaration cum Undertaking cum authority to make direct payment to dealer
Rating Sheet
Project Report
Forwarding letter of NRLM/SRLM along with the application form
Declaration from the owner of the property where the Unit is operating/proposed to be set up
Information regarding Inter-Loan Repayment History of the SHG Member
Declaration from the borrower regarding the loan applied and the utilization of the fund for the procurement of machinery/ equipment/ raw material/stock/running the enterprise etc. (Part of Application Form)

bob Nari Shakti : Fees & Charges

As per Bank’s extant guidelines.

bob Nari Shakti : Most Important Terms & Conditions (MITC)

Age Criteria	Min. 18 years Max. upto 65 years.
Quantum of Loan	Min. Rs.1 Lakh Max. Rs 5.00 Lakh.
Nature of Facility	Working Capital /Demand/Term Loan
Repayment Period	Term Loan: -60- months (Including maximum 3 months moratorium Period) from the sanction date Working Capital: -12- months subject to annual review.
Security	Primary Security: Hypothecation of Assets/Stocks/Book debts created out of Bank’s Finance. Collateral Security: Nil Third party Guarantee: Nil
Margin	Upto Rs 1.00 Lakh- NIL Above Rs 1.00 Lakh - 15%
Rate of Interest	MCLR+SP+1.20%
Other Informations	2% Interest subvention on outstanding upto 1.5 Lakhs per borrower on prompt repayment.