|Punjab and Sind Bank
|Artisan Credit Card (ACC) Scheme
|To provide adequate and timely assistance to artisans for their investments needs as well as working capital requirement. The scheme would be operative in rural and urban areas.
|All artisans engaged in production/manufacturing process and otherwise eligible for credit facilities under any of the existing bank schemes would be eligible. Preference would be given to artisans registered with Development Commissioner (Handicrafts) and thrust in financing would be on clusters of artisans who have joined to form Self Help Groups (SHGs). Beneficiaries of other Govt. sponsored loan schemes will not be eligible for coverage under ACC scheme. All existing artisans borrowers of the Bank enjoying credit facilities upto Rs.2 lakh and having satisfactory dealings with the Bank will be eligible.
|Rate of Interest & Repayment
|Rate of interest
|Hypothecation of assets to be created with Bank finance.
|Composite /loan Limit
|The credit limit would be fixed on assessment of working capital requirements as well as cost of tools and equipments needed for carrying out manufacturing activities. Working capital requirements would be assessed as per Nayak Committee recommendations. The maximum limit to be sanctioned under the scheme would be Rs.2 lakhs. The working capital limit would be as revolving cash credit to provide any number of drawals and repayments within the limit. However, a repayment schedule would be fixed for the portion of loan availed for the purchase of tools and equipments
|For credit up to Rs.25000/- no margin is required but for credit above Rs. 25000/- a margin of 25% would be kept