Time Limit

Time Norms for disposal of loan applications:

Acknowledgements for receipt of the loan application by Digital Message.

Limits Time Limit for Disposal
i) Sanction of fresh / enhanced credit limits:
  a) Loans up to Rs.25 Lakhs
  b) Loans over Rs.25 Lakhs

Within 14 Working days
Within 6 weeks
ii) Renewal of existing credit limits Within 2 weeks
iii) Sanction of ad-hoc credit limits Within 1 week
  • Time limit is from the date on which all clarifications / information required for processing the loan proposals are received by respective sanctioning authorities.
  • No collateral security: for advances upto Rs.20 Lakhs under MSEs Sector.
  • Loan quantum: Minimum 20% of projected annual sales turnover (Nayak committee norms) for the working capital requirement.