WBGB ANNAKUT "West Bengal is one of India’s leading rice-producing states, supported by a vast network of small and medium-sized rice mills that play a vital role in the state’s agri-based economy. Purba Burdwan district stands out as a key hub for rice milling, housing a dense cluster of both modern and semi-modern mills. Our Bank is commited to cater to the need of Rice Millers by providing timely and affordable credit" Purpose/Objective: Credit facilities are available for setting up new rice mills or acquiring existing ones, along with working capital assistance, offered on liberalized terms and at a concessional rate of interest. To meet the financial requirements of rice mills. To set up new rice mills and to acquire existing rice mills. Takeover of rice mill advances from other banks / financial institutions. Operating existing rice mills. Upgrading or expanding existing milling capacities. Eligibility: Proprietorship, Registered Partnership Firms, Private / Public Ltd., Companies / LLPs / Societies / Trusts engaged in business activity. Business Unit should comply with applicable statutory requirements such as GST Registration, License under Shops & Commercial Establishment Act, UDYAM Registration, Trade License, certificate from DIC / KVIC, Pollution Certificate, etc. The applicant / firm / business entity must be engaged in the same line of business for a minimum of 2 years with a satisfactory track record, and the unit should have a Cash Profit in the normal course of business in the immediately preceding year. However, new enterprises / Start-Up Units are also eligible to finance under the scheme based on the merit of each case. The production capacity and repaying capacity of the above-said business establishment shall be the primary criteria for considering a loan under the scheme. The borrower shall not be in the wilful defaulters list circulated by RBI / CIC / others. NATURE OF FACILITY: Term Loan – Maximum 120 months including moratorium of 12 months for acquiring fixed assets for business needs, setting up new rice mills, or procuring plant and machinery etc. Working Capital – Limit shall be sanctioned only for financing the working capital requirement. Non-Fund Based – In the form of Bank Guarantee. MARGIN: Term Loan – 25% for new plant/machinery and 25% for factory building. For acquisition of second-hand/used plant & machinery, margin shall be as per Credit Management and Risk Policy, subject to submission of Chartered Engineer’s valuation certificate confirming the residual life of the machinery covering the project period. It must be ensured that the borrowing concern has contributed upfront margin as per the terms of sanction, and at each stage of disbursement, the promoters must bring their contribution pro-rata to ensure that the upfront contribution is always available over and above the pro-rata contribution. Working Capital – Drawing Power shall be calculated after applying 25% margin on Stock of Goods and 25% margin on Book Debts/Debtors (eligible up to 90 days duration). Non-Fund Based Facility (Bank Guarantee) – Minimum cash margin of 25%. Benchmark Ratios / Credit Risk Rating – For fresh credit facilities, the borrower should have a credit risk rating of at least WBGBCR3 – b. REPAYMENT PERIOD: Term Loan – Maximum 120 months including moratorium of 12 months for acquiring fixed assets for business needs, setting up new rice mills, or acquisition of plant and machinery. Working Capital – Limit shall be sanctioned for a period of One Year. The facility may be continued on a yearly review basis thereafter. Non-fund-based Facility – In the form of Bank Guarantee, should be issued for a maximum of 3 years. RATE OF INTEREST: Time to time Bank changes Rate of Interest ( ROI) for ROI please check the latest rate as given in the Website in loan ROI section CHARGES: Following charges shall be recovered as per Bank’s extant circular: Processing Charge Documentation Charge Inspection / Supervision Charge Review / Renewal Charges CIC Charges Any other applicable charge