SCHEMES FOR GOOD BORROWERS
1. The Corporation has introduced new
schemes for the benefit of our existing and regular borrowers who have a
proven track record of timely payment. These schemes provide speedy sanction
and liberal
disbursement procedures.
2. FUNCTION
a) Providing financial assistance to existing good borrowers/ potential good borrower of the corporation under different schemes. These schemes provide financial assistance to entrepreneurs to meet out their working capital requirement and also for funding their expansion modernisation and diversification projects.
b) Documentation and disbursement of loans sanctioned under GB Schemes is done at HO except in cases having request of the promoter, for documentation and disbursement is allowed in branches.
3. SCHEMES FOR GOOD BORROWERS
i) Short term loan to good borrowers(STL).
ii) Working capital term loan to good borrowers(WCTL).
iii) Special purposes working capital term loan(SPWCTL):
v) Gold Card Scheme (GCL).
vi) Working capital term loan to non assisted units (WCTL to NAU).
4. SCHEMES FOR POTENTIAL GOOD BORROWERS
i) Short term loans to good borrowers (STL).
ii) Working capital term loan to good borrowers (WCTL).
iii) Special purposes working capital term loan (SPWCTL):
a) For acquiring set of diamond blade and/or segments by marble gangsaw units.
b) For acquiring set of back up roll/work roll, bearings, for replacement of machinery/ machinery parts and consumables specific to the need of the unit by SS Manufacturing units.
c) For replacement of card cloth by carpet woolen yarn manufacturing units.
5. ELIGIBILITY CRITERIA FOR GOOD BORROWERS
Existing Units assisted by corporation fulfilling the following norms would be eligible: -
(i) The unit should be an existing one and assisted by the corporation irrespective of whether the account of the unit is in operation or the account is squared up in past.
(ii) The unit should be in production during the last 3 preceeding years(two years in respect of Special purposes WCTL Schemes) on date to date basis and working results of atleast 2 years (one year in respect of Special purposes WCTL Schemes) out of 3(2) years, should reveal positive cash generations including the positive cash generations in immediate preceding year.
iii) The unit should have repaid atleast 30% of loan disbursed.(For STL, and WCTL Schemes only)
iv) The unit's account is classified as standard assets during last 3 (two years in respect of Special purposes WCTL Scheme) full preceding years.
v) The unit has not availed of any concession/relief by way of reschedulement, except refixation based on actual loan disbursed, during last 3 years. However, if borrower’s request for reschedulement is considered before committing default in last three preceding years provided it fulfills all other eligibility criteria of the respective G.B. scheme, the case may be covered under G.B. scheme.
vi) If any unit/entrepreneur or its sister or family/associate concern have availed benefit of rebate/relief by way of waivement of penal interest/interest in the last 3 financial years, the same is required to be refunded/deposited back while considering financial assistance to such
units/entrepreneurs under Good Borrower Scheme.
vii) There should be no overdues in the loan account of sister/associate concern, if any, financed by the Corporation.
viii) COMMERCIAL COMPLEX CASES
(a) The unit should be operating/dealing with the Corporation for at least 2 years and repaid 50% of loan disbursed.
(b) The account of the unit should have been classified as standard assets in last 2 financial years.
(c) Working results and financial performance of the unit should be satisfactory in the last 2 financial years and should have shown positive cash generation.
(d) The other norms of the GB schemes shall remain unchanged. However, if there is short fall in prescribed norms of the security debt ratio, the Corporation may accept immovable property which is marketable and mortgagable for the amount of gap.
6. ELIGIBILITY CRITERIA FOR POTENTIAL GOOD BORROWERS
The eligibility criteria under this scheme are as under:-
(i) The unit should be an existing one and assisted by the corporation irrespective of whether the account of the unit is in operation or the account is squared up in past.
(ii) The unit should be in production during the last 3 preceding years(two years in respect of Special purposes WCTL Schemes) on date to date basis and working results of atleast 2 years [one year in respect of Special purposes WCTL Schemes) out of 3,(2) years, should reveal positive cash generations including the positive cash generations in immediate preceding year.
iii) The unit should have repaid atleast 30% of loan disbursed in aggregate.(For STL, and WCTL Schemes only) and should not have any overdue.
iv) The unit's account(s) has been repaid within LDR/Extended LDR OR if any account is still in operation there should be no overdues in the account.
v) Incase, the unit has availed any concession/relief by way of waiver of interest/penal interest in last 3 years, the same would be deposited back.
vi) There should not be any overdue in the loan account of sister/associate concern, if any, financed by the Corporation.
vii) There should not have been any reschedulement in the account in the preceding 2 years from the date of application under PGBS.
7. ELIGIBILITY CRITERIA FOR GOLD CARD
i) The unit should have operating/dealing with thecorporation for atleast 4 years.
ii) The existing debt equity ratio should not be more then 1.5:1 as per balance sheet of the last financial year.
iii) The account of the unit should have been classified as standard assets in the last 3 financial years.
iv) Working results and financial performance of the unit should be satisfactory in the last 3 financial years.
v) The borrower should not have availed any benefit by way of waiver of interest/penal interest or grant of reschedulement in the last 3 financial years and during current financial year.
vi) There should be no overdue in sister/associate/family concern of the unit and also no benefit of waiver of penal interest should have been granted during last three years.
vii) The working result of the concerns should justify repayment of existing and proposed loan.
viii) The loan cases which have been paid off in past as per the LDR(excluding prepayment) will be eligible for gold card loan provided their account were classified as standard assets in the last three years from the date of clearance of account and they have not availed term loan from bank. In case they have availed term loan from bank (excluding working capital loan) and want to avail gold card loan from the corporation then at first instance they shall have to avail the loan from corporation under any other scheme and operate the loan account at least for one year with satisfactory dealings.
ix) COMMERCIAL COMPLEX CASES
(a) The unit should be operating/dealing with the Corporation for at least 2 years and repaid 50% of loan disbursed.
(b) The account of the unit should have been classified as standard assets in last 2 financial years.
(c) Working results and financial performance of the unit should be satisfactory in the last 2 financial years and should have shown positive cash generation.
(d) The other norms of the gold card schemes shall remain unchanged. However, if there is short fall in prescribed norms of the security debt ratio, the Corporation may accept immovable property which is marketable and mortgagable for the amount of gap.
Note:- Under this scheme, minimum security debt ratio of 1.75:1 shall be kept.
8. BRIEF OF THE SCHEMES
a) Working capital term loan
This Scheme has been introduced for financing gap in working capital requirement and working capital available from Bank. The loan admissible under the scheme is Rs. 2.00 lac to Rs. 300.00 lac to the existing units assisted by the Corporation. The assistance is granted on the basis of the gap in working capital assessed by the Corporation based on requirements and working capital facilities made available by the banks. The assistance is granted on the basis of security of immovable property which should be 150% of the total assistance(including outstanding in existing term loan account) being considered under the scheme.
Underpotential good borrower scheme, maximum loan admissible is twice of loan repaid in term loan(excluding advance recovery) subject to security debt ratio of minimum 2:1.
b) Short term loan
The above scheme has been introduced to provide short term financial assistance to our regular borrowers for meeting their needs for acquiring P&M, balancing equipments or for expansion, modernisation, replacement of fixed assets or for acquisition of any other assets. The assistance under the scheme is considered from Rs. 2.00 lac to Rs. 500.00 lac. However, the total amount of assistance is restricted to 4 times of the amount of principal repaid in term loan availed from the Corporation. Under potential good borrower scheme maximum loan admissible is twice of loan repaid in term loan(excluding advance recovery) subject to security debt ratio of 2:1.
c) Assistance to Non-assisted Units(UPGB Scheme)
The Corporation has introduced this scheme to provide financial assistance to well established units assisted by banks or other financial institutions. This Scheme also covers new units that are being set up or promoted by our existing good borrowers.The financial assistance is available for the purpose of meeting their needs for expansion, modernisation, diversification, purchasing of balancing equipments etc.
Under this scheme assistance is being granted by the Corporation to the following:-
i)New units promoted by our existing good borrowers.
ii)Units with proven track record not assisted by the Corporation but have availed financial assistance from Bank or other financial institutions.
Under the scheme term loan assistance ranging from minimum of Rs. 20.00 lac to Rs. 2000.00 lac as per the maximum permissible limit of RFC is being considered to four times of the principal repaid.
d) Special purposes WCTL Schemes.
Under this scheme financial assistance is provided:-
(i) To replace the existing blades/segments by marble gangsaw units.
(ii) For acquiring set of back up roll/work roll, bearings, for replacement of machinery/ machinery parts and consumables specific to the need of the unit by SS Manufacturing units.
(iii) To replace card clothing by carpet yarn manufacturing units.
(iv) For textile units for replacement of parts of Stenter Machine, printing machine and thermax boiler.
The maximum loan is admissible equal to amount of loan repaid under good borrower scheme as well as potential good borrower scheme.
Subsequent Loans : Fresh Loan for the above purpose is also admissible even when earlier loan has not been repaid in total.
Further admissible loan (on the same margin of security) and outstanding amount in the existing SPWCTL account should not exceed the original sanctioned amount under this scheme provided the unit is running.
e) Gold Card Scheme
Under this scheme, Corporation is providing speedy sanction and disbursement of loan for meeting out immediate financial requirement of working capital and/or for acquisition of fixed assets at free disposal in the hands of borrower. The maximum loan admissible is equal to loan repaid with minimum security debt ratio of 1.75:1. The interest is chargeable 1% below the prevailing rate of interest with no further rebate on timely payment.
The maximum loan admissible under Gold card loan scheme on the basis of security debt ratio is as under:
This Scheme provides to finance gap in working capital requirement and working capital available from bank subject to maximum of Rs. 100.00 lac on security debt ratio of 2:1. To become eligible under this scheme, a unit should have been in production during last 3 preceding years and should reveal positive cash generation in 2 years out of last 3 years including cash generation in immediate preceding year and ready to provide prime security under Ist charge in favour of the Corporation.
Under this scheme, prevailing rate of interest shall be charged and rebate @ 1% for timely payment is available. Further the security debt ratio shall be kept at 2:1.
g) Silver Card Scheme
Introduction
The Corporation is already operating the "Gold Card Scheme" for its existing good borrowers and has now also introduced the "Silver Card Scheme" for its other potential good borrowers ie who have repaid more than 50% of the amount disbursed in term loan. Under this scheme the Corporation provides financial assistance as would facilitate the entrepreneurs to save the higher cost of funds which would otherwise have to be borrowed from a private financier.
Objective
To provide financial assistance to the borrowers of the Corporation to meet out their requirement, either for working capital need or to acquire fixed assets or both, without going into detailed appraisal.
Eligibility Criteria
The maximum eligible loan shall be an amount equal to 50% of the loan repaid against principal in term loan (loan repaid under WCTL shall not be considered) and shall be considered in two parts:
Floating limit : Equal to 10% of total loan admissible may be availed by the borrower from any of our BO, including Delhi Sub Office any time during currency of loan. The loan so availed shall have to be deposited within the LDR of the fixed limit.
Note:
The outstanding in existing loan accounts and proposed loan ie. Total debt of the unit from the Corporation should not exceed 50% of the total security of fixed assets mortgaged to the Corporation. For the purpose of calculation of security, MRV of land and building and book value of P&M and MFA shall be considered. The minimum security debt ratio shall not be less than 2:1.
Interest rate
The unit will have the option to choose fixed or flexi rate of interest. The loan carries a rate of interest @ 0.5% below the prevailing rate. However the scheme does not carry the facility of rebate on timely payment.
Liquidated Damages
Liquidated damages @ 2.00% over and above the interest rate shall be charged for the amount of default and for the period of default if the default extends even upto two quarters.
Service charges
Processing charges @ 1% of amount to be disbursed shall be charged at the time of disbursement.
Margin and Promoter's contribution
No additional margin and promoter's contribution shall be required, provided the existing debt equity ratio does not exceed 1.5:1.
Repayment and Moratorium period
The loan shall be repayable in maximum 5 years in quarterly instalments, including the moratorium period. The moratorium period for payment of principal sum would be six months. However, interest shall be paid quarterly.
Disbursement
Fixed limit: The sanctioned amount shall have to be availed of within 6 months from the date of communication of intention of sanction and the disbursement shall be released in maximum three instalments.
Floating limit
Floating limit as and when availed of, shall be payable on or before the last date of repayment.
h) Tatkaal Scheme
Introduction
As is self-evident from the name itself, the 'Tatkaal scheme' provides immediate financial assistance to the Corporation's itself good borrowers without entering into detailed examination and detailed appraisal.
Scope and Objectives
Financial assistance under the scheme shall be provided to the following purposes:
Eligibility Criteria
Units fulfiling the following norms shall be eligible for loan under the scheme:
Financial assistance under the scheme shall extend above Rs.10 lac and upto Rs.50 lac, subject to a maximum exposure of Rs.500 lac (including outstanding in existing term loan account). However, in case of proprietor/partnership, the maximum limit of assistance shall be of Rs.200 lac.
A higher requirement of loan (upto Rs.100 lac) may also be considered on the merits of the case.
Admissibility of loan
The admissibility of loan shall be calculated as under:
Purpose Security margin
(a) On working capital 25%
requirement
(to execute the specific
orders)
(b) On plant & machinery (i) 25%
(ii) 50% in case of P&M based on virgin/new technology.
Repayment & Moratorium period
Initially the term loan will be provided for a short period extending to one year. However, where the loan is availed for acquiring plant & machinery, the repayment period may later on be converted into regular loan, payable in 3 years. In case the party wants to repay it earlier, no prepayment charge would be levied. The repayment shall be made in equated quarterly instalments.
The moratorium period shall not exceed 6 months from the date of release of funds.
Security
(i) First charge/first pari passu charge by way of mortgage of land and building and hypothecation of plant and machinery etc.
(ii) First charge/exclusive charge over the fixed assets proposed to be created out of the proposed assistance or on the current assets (including debtors) if the assistance is proposed to be utilized for working capital requirement.
Rebate
While no rebate is offered under the scheme in the first year, a rebate on timely payment, however, shall be available in the subsequent two year period.
Service charges
Annual service charges @ 1% p.a.payable quarterly on the outstanding amount for term loan, is payable alongwith equated quarterly instalment.
Security Debt Ratio
A minimum security debt ratio of 1.5:1 shall be maintained under the scheme. For the purpose of calculation of security debt ratio, MRV of land (RIICO's present rate) and building and WDV of plant & machinery shall be considered.
Application and Documentation fee:
The loan under the scheme shall carry:
· The application form shall be deposited alongwith application fee @ 0.1% of the loan amount.
· Documentation charges : @ 1% of the loan intended to be sanctioned are also payable.
Interest rate
The loan shall bear the rate of interest prevailing as on the date of first disbursement.
Liquidated Damages
Liquidated damages @ 2.00% pa. Shall be charged on the amount of default for the period of default, over and above the interest rate applicable.
Disbursement
The amount shall be released in single instalment or in parts if so required by the unit, after ensuring the following:
The loan shall be repayable through post dated cheques in equated quarterly instalments.
Sanctioning Authority
All loans irrespective of amount shall be processed and considered at HO. The loan shall be sanctioned by CMD or the Committee to be constituted by CMD.
i) PLATINUM CARD LOAN SCHEME
Introduction:
RFC is providing financial assistance to the SSI and medium scale units since last four decades. During the course of financing, a number of entrepreneurs have established themselves as good borrowers (GB) of the Corporation and the Corporation has already taken steps to provide financial assistance to them on liberal terms through its various exclusive schemes.
In order to encourage the existing entrepreneurs/good borrowers to have continued business relationship with the Corporation in a competitive business scenario, the Corporation has now introduced a new scheme termed as "Platinum Card Loan Scheme" so that the existing entrepreneurs availing loan facilities under GB schemes with satisfactory repayment behaviour may be further elevated/upgraded under this new scheme.
Purpose:
Providing of financial assistance to the existing good borrowers of the Corporation availing loan facilities under GB Schemes, with satisfactory repayment behaviour, to meet out their immediate requirement, either for working capital limit or to acquire fixed assets or both.
Eligible Units:
- Existing gold card holders with proven track record of repayment of two years under Gold Card Scheme.
OR
- Existing gold card holders with proven track record of repayment of one year under Gold Card Scheme and two years in other Good Borrowers Schemes.
Note: This facility would not be available in joint finance cases.
Eligibility criteria:
- The existing debt equity ratio of the unit is not more than 1.5:1 as per balance sheet of the last financial year.
OR
- On considering the proposed platinum card limit, the debt equity ratio would not exceed 2:1.
- Working results and financial performance of the unit should have been satisfactory in the last 4 financial year and it should have revealed positive cash generation at least for 2 years in the last 3 years.
- There should be no overdue in sister/associate/ family concern of the unit and also no benefit of waiver of penal interest should have been granted during last three years.
- The working result of the concerns should justify repayment of existing and proposed loan.
Eligible amount:
The eligibility of loan shall be assessed by the Corporation, which shall not be more than 1.25 times of the loan repaid against principal in term loan, including UPGB and short term loan under GB scheme (loan repaid in WCTL/Silver Card/Gold Card loan account shall not be considered).
- The eligible amount under Platinum Card Scheme would be considered in two segments ie. Fixed limit and floating limit.
- The floating limit would be equal to 10% (in multiple of Rs.0.50 lac) of total platinum card loan admissible, subject to maximum of Rs.5.00 lac.
- Platinum card would be considered only in the cases where admissible loan under this scheme is Rs.10 lac or above.
- The maximum loan admissible under Platinum card loan scheme on the basis of security debt ratio is as under:
Securities
and security debt ratio:
The security debt ratio should not be less than 1.75:1. For the purpose of calculation of security, MRV of land and building and book value of plant and machinery and MFA (subject to maximum of MRV of land and building) shall be considered.
Note: If any gold card holder becomes eligible for platinum card, while considering the eligible amount under Platinum Card Scheme, the outstanding in existing gold card account will be simultaneously squared up and shall be upgraded to the Platinum Card Scheme by way of roll over. In other words, the entrepreneur cannot have gold card as well as platinum card simultaneously. However, no prepayment charges would be charged for such upgradation of gold card loan amount. The borrower shall, however, have to surrender his gold card to get Platinum Card.
Processing of loan application:
No detailed appraisal would be carried out. Only entrepreneurs shall be identified by analysing past track records with regards to repayment behaviour with the Corporation and financial performance for the last four financial years.
Application and application fee:
After prima facie clearance of the case of the unit, the entrepreneurs shall submit formal application in the prescribed format alongwith the application fee as per the existing norms.
Margin and promoter's contribution:
No additional margin and promoter's contribution will be required to be brought in, provided that the existing debt equity ratio is not more than 1.5:1. However, if after proposed availment of platinum card limit, the debt equity ratio increases beyond 2:1, the concern/unit has to bring additional capital or unsecured (Interest Free) loan so as to keep the debt equity ratio below 2:1.
Processing charges:
Processing charges @1% of amount to be disbursed shall be charged at the time of disbursement.
Interest rate:
The unit would have the option to choose fixed or flexi rate of interest at the time of filing the application. Request for change in option in interest from fixed to flexi and vice versa can be considered by the GM(Loans) before execution of loan documents. After execution of loan documents, no such request shall be entertained.
- Fixed rate of interest: 1.25% below the prevailing applicable rate of interest under the General Term Loan Scheme, interest being payable quarterly, with no further rebate.
OR
- Flexi rate of interest : 1.25% below the rate of interest applicable under the General Term Loan Scheme prevailing from time to time.
Note:
- In case borrower opts for flexi rate of interest, no premium on prepayment would be charged.
- No rebate in interest is available on timely payment under this scheme.
Liquidated damages:
No default in intrest and principal shall be allowed. In case of default following action shall be initiated :
a)Action u/s 138(b) of NI Act .
b) The status of card holder may be switched over to general loan scheme if the default is not regularised with in 15 days of default .
c) The card, if any, issued to such borrower may stand cacelled .
d)The corporation shall charge liquidated damages @ 2% p.a on the amount in default for the period of default from day one.
Repayment priod:
A)Fixed limit :
i)The loan shall be repayable in maximum 5 years in equal annual instalments including a moratorium period not exceeding six months through PDCs against fixed limit. The first installment shall fall due on first day of February falling immediately after expiry of six months from the date of first disbursement .
ii) The unit may pre-pay without attracting pre payment premium.
iii) The concern shall make the payment of interest on first day of each quarter i.e March,June ,September and December.
Moratorium period:
The moratorium period for payment of principal sum would not exceed six months. However, interest shall be paid quarterly.
Disbursement:
The disbursement will be released in maximum two instalments.
Validity of sanction:
The sanction will be valid for 6 months only from the date of communication of sanction. Extension in sanction beyond 6 months to 12 months shall be considered by the sanctioning authority.
a) Interest rate:
(i) Prevailing rate of interest is chargeable in all the Schemes of good borrowers, potential good borrowers, UPGB Scheme and WCTL to non assisted units and Special purposes WCTL Scheme.
(ii) Intt. at 1% below the prevailing rate of interest is chargeable under Gold Card Scheme.
b) Processing Charges:
Processing charges @ 1% p.a. is chargeable under WCTL, SPWCTL, WCTL to non assisted units in both the Schemes for good borrowers and PGB Scheme.
c) Rebate
Rebate for timely payment is available as under:-
(i) Good borrower scheme - 2%
(ii) Loan above Rs. 100.00 lacs - 2.5%
(iii) Under Potential good borrower scheme - 1%
and working capital term loan to non
assisted units.
(iv)Gold Card Scheme - Nil
d) Repayment:
Under all the Schemes (except Gold card scheme)repayment is taken through PDCs.
10. DELEGATION OF POWERS
Exclusively powers for sanction of loan are available to field offices under GB Schemes to the extent power available in general term loan scheme. However power for sanction of loan under Gold card scheme and WCTL to non assisted units are available at HO only irrespective of amount.
11. Application form under different schemes of Good borrowers:-
i. Short term loan(STL) - Annexure-A
(both under GB Scheme and)
Potential GB scheme )
ii. Working Capital term loan(WCTL) - Annexure-B
(Under GB Scheme/Potential GB
Scheme and WCTL to non assisted
units)
iii. Unit promoted by Good borrower(UPGB) - Application
form above Rs. 2.00 lac applicable
under general term loan Scheme may
be used.
Note: These forms are available on Website and can be electronically transmitted. Application form can be submitted to the office along with cost of form besides application fee prescribed.
Application forms for Special purposes WCTL Scheme and Gold Card scheme can be obtained from our branch office.
Please ensure filling of correct application form relating to concerned scheme.
disbursement procedures.
2. FUNCTION
a) Providing financial assistance to existing good borrowers/ potential good borrower of the corporation under different schemes. These schemes provide financial assistance to entrepreneurs to meet out their working capital requirement and also for funding their expansion modernisation and diversification projects.
b) Documentation and disbursement of loans sanctioned under GB Schemes is done at HO except in cases having request of the promoter, for documentation and disbursement is allowed in branches.
3. SCHEMES FOR GOOD BORROWERS
i) Short term loan to good borrowers(STL).
ii) Working capital term loan to good borrowers(WCTL).
iii) Special purposes working capital term loan(SPWCTL):
a) For acquiring set of diamond blade and/or segments by marble gangsaw units.iv) Financial assistance to existing non assisted units with proven track record and new units promoted by the good borrowers of the Corporation(UPGB).
b) For acquiring set of back up roll/work roll, bearings, for replacement of machinery/ machinery parts and consumables specific to the need of the unit by SS Manufacturing units.
c) For replacement of card cloth by carpet woollen yarn manufacturing units.
d) For textile units for replacement of parts of Stenter Machine, printing machine and thermax boiler.
v) Gold Card Scheme (GCL).
vi) Working capital term loan to non assisted units (WCTL to NAU).
4. SCHEMES FOR POTENTIAL GOOD BORROWERS
i) Short term loans to good borrowers (STL).
ii) Working capital term loan to good borrowers (WCTL).
iii) Special purposes working capital term loan (SPWCTL):
a) For acquiring set of diamond blade and/or segments by marble gangsaw units.
b) For acquiring set of back up roll/work roll, bearings, for replacement of machinery/ machinery parts and consumables specific to the need of the unit by SS Manufacturing units.
c) For replacement of card cloth by carpet woolen yarn manufacturing units.
5. ELIGIBILITY CRITERIA FOR GOOD BORROWERS
Existing Units assisted by corporation fulfilling the following norms would be eligible: -
(i) The unit should be an existing one and assisted by the corporation irrespective of whether the account of the unit is in operation or the account is squared up in past.
(ii) The unit should be in production during the last 3 preceeding years(two years in respect of Special purposes WCTL Schemes) on date to date basis and working results of atleast 2 years (one year in respect of Special purposes WCTL Schemes) out of 3(2) years, should reveal positive cash generations including the positive cash generations in immediate preceding year.
iii) The unit should have repaid atleast 30% of loan disbursed.(For STL, and WCTL Schemes only)
iv) The unit's account is classified as standard assets during last 3 (two years in respect of Special purposes WCTL Scheme) full preceding years.
v) The unit has not availed of any concession/relief by way of reschedulement, except refixation based on actual loan disbursed, during last 3 years. However, if borrower’s request for reschedulement is considered before committing default in last three preceding years provided it fulfills all other eligibility criteria of the respective G.B. scheme, the case may be covered under G.B. scheme.
vi) If any unit/entrepreneur or its sister or family/associate concern have availed benefit of rebate/relief by way of waivement of penal interest/interest in the last 3 financial years, the same is required to be refunded/deposited back while considering financial assistance to such
units/entrepreneurs under Good Borrower Scheme.
vii) There should be no overdues in the loan account of sister/associate concern, if any, financed by the Corporation.
viii) COMMERCIAL COMPLEX CASES
(a) The unit should be operating/dealing with the Corporation for at least 2 years and repaid 50% of loan disbursed.
(b) The account of the unit should have been classified as standard assets in last 2 financial years.
(c) Working results and financial performance of the unit should be satisfactory in the last 2 financial years and should have shown positive cash generation.
(d) The other norms of the GB schemes shall remain unchanged. However, if there is short fall in prescribed norms of the security debt ratio, the Corporation may accept immovable property which is marketable and mortgagable for the amount of gap.
6. ELIGIBILITY CRITERIA FOR POTENTIAL GOOD BORROWERS
The eligibility criteria under this scheme are as under:-
(i) The unit should be an existing one and assisted by the corporation irrespective of whether the account of the unit is in operation or the account is squared up in past.
(ii) The unit should be in production during the last 3 preceding years(two years in respect of Special purposes WCTL Schemes) on date to date basis and working results of atleast 2 years [one year in respect of Special purposes WCTL Schemes) out of 3,(2) years, should reveal positive cash generations including the positive cash generations in immediate preceding year.
iii) The unit should have repaid atleast 30% of loan disbursed in aggregate.(For STL, and WCTL Schemes only) and should not have any overdue.
iv) The unit's account(s) has been repaid within LDR/Extended LDR OR if any account is still in operation there should be no overdues in the account.
v) Incase, the unit has availed any concession/relief by way of waiver of interest/penal interest in last 3 years, the same would be deposited back.
vi) There should not be any overdue in the loan account of sister/associate concern, if any, financed by the Corporation.
vii) There should not have been any reschedulement in the account in the preceding 2 years from the date of application under PGBS.
7. ELIGIBILITY CRITERIA FOR GOLD CARD
i) The unit should have operating/dealing with thecorporation for atleast 4 years.
ii) The existing debt equity ratio should not be more then 1.5:1 as per balance sheet of the last financial year.
iii) The account of the unit should have been classified as standard assets in the last 3 financial years.
iv) Working results and financial performance of the unit should be satisfactory in the last 3 financial years.
v) The borrower should not have availed any benefit by way of waiver of interest/penal interest or grant of reschedulement in the last 3 financial years and during current financial year.
vi) There should be no overdue in sister/associate/family concern of the unit and also no benefit of waiver of penal interest should have been granted during last three years.
vii) The working result of the concerns should justify repayment of existing and proposed loan.
viii) The loan cases which have been paid off in past as per the LDR(excluding prepayment) will be eligible for gold card loan provided their account were classified as standard assets in the last three years from the date of clearance of account and they have not availed term loan from bank. In case they have availed term loan from bank (excluding working capital loan) and want to avail gold card loan from the corporation then at first instance they shall have to avail the loan from corporation under any other scheme and operate the loan account at least for one year with satisfactory dealings.
ix) COMMERCIAL COMPLEX CASES
(a) The unit should be operating/dealing with the Corporation for at least 2 years and repaid 50% of loan disbursed.
(b) The account of the unit should have been classified as standard assets in last 2 financial years.
(c) Working results and financial performance of the unit should be satisfactory in the last 2 financial years and should have shown positive cash generation.
(d) The other norms of the gold card schemes shall remain unchanged. However, if there is short fall in prescribed norms of the security debt ratio, the Corporation may accept immovable property which is marketable and mortgagable for the amount of gap.
Note:- Under this scheme, minimum security debt ratio of 1.75:1 shall be kept.
8. BRIEF OF THE SCHEMES
a) Working capital term loan
This Scheme has been introduced for financing gap in working capital requirement and working capital available from Bank. The loan admissible under the scheme is Rs. 2.00 lac to Rs. 300.00 lac to the existing units assisted by the Corporation. The assistance is granted on the basis of the gap in working capital assessed by the Corporation based on requirements and working capital facilities made available by the banks. The assistance is granted on the basis of security of immovable property which should be 150% of the total assistance(including outstanding in existing term loan account) being considered under the scheme.
Underpotential good borrower scheme, maximum loan admissible is twice of loan repaid in term loan(excluding advance recovery) subject to security debt ratio of minimum 2:1.
b) Short term loan
The above scheme has been introduced to provide short term financial assistance to our regular borrowers for meeting their needs for acquiring P&M, balancing equipments or for expansion, modernisation, replacement of fixed assets or for acquisition of any other assets. The assistance under the scheme is considered from Rs. 2.00 lac to Rs. 500.00 lac. However, the total amount of assistance is restricted to 4 times of the amount of principal repaid in term loan availed from the Corporation. Under potential good borrower scheme maximum loan admissible is twice of loan repaid in term loan(excluding advance recovery) subject to security debt ratio of 2:1.
c) Assistance to Non-assisted Units(UPGB Scheme)
The Corporation has introduced this scheme to provide financial assistance to well established units assisted by banks or other financial institutions. This Scheme also covers new units that are being set up or promoted by our existing good borrowers.The financial assistance is available for the purpose of meeting their needs for expansion, modernisation, diversification, purchasing of balancing equipments etc.
Under this scheme assistance is being granted by the Corporation to the following:-
i)New units promoted by our existing good borrowers.
ii)Units with proven track record not assisted by the Corporation but have availed financial assistance from Bank or other financial institutions.
Under the scheme term loan assistance ranging from minimum of Rs. 20.00 lac to Rs. 2000.00 lac as per the maximum permissible limit of RFC is being considered to four times of the principal repaid.
d) Special purposes WCTL Schemes.
Under this scheme financial assistance is provided:-
(i) To replace the existing blades/segments by marble gangsaw units.
(ii) For acquiring set of back up roll/work roll, bearings, for replacement of machinery/ machinery parts and consumables specific to the need of the unit by SS Manufacturing units.
(iii) To replace card clothing by carpet yarn manufacturing units.
(iv) For textile units for replacement of parts of Stenter Machine, printing machine and thermax boiler.
The maximum loan is admissible equal to amount of loan repaid under good borrower scheme as well as potential good borrower scheme.
Subsequent Loans : Fresh Loan for the above purpose is also admissible even when earlier loan has not been repaid in total.
Further admissible loan (on the same margin of security) and outstanding amount in the existing SPWCTL account should not exceed the original sanctioned amount under this scheme provided the unit is running.
e) Gold Card Scheme
Under this scheme, Corporation is providing speedy sanction and disbursement of loan for meeting out immediate financial requirement of working capital and/or for acquisition of fixed assets at free disposal in the hands of borrower. The maximum loan admissible is equal to loan repaid with minimum security debt ratio of 1.75:1. The interest is chargeable 1% below the prevailing rate of interest with no further rebate on timely payment.
The maximum loan admissible under Gold card loan scheme on the basis of security debt ratio is as under:
| Security Debt Ratio | Loan admissible |
| 1.75:1 | Equal to 5 times of cash generation |
| 2:1 | Equal to 6 times of cash generation |
| 2.5:1 | Equal to 8 times of cash generation |
| 3:1 | Equal to 10 times of cash generation |
- Replenishment of loan amount is also eligible under the scheme, if borrower has repaid at least 40% of loan amount and fulfilling other requirements of the scheme with encouraging working results.
- The borrower may give his option to avail Floating limit upto 20% of loan admissible at the time of applying loan under the scheme.
This Scheme provides to finance gap in working capital requirement and working capital available from bank subject to maximum of Rs. 100.00 lac on security debt ratio of 2:1. To become eligible under this scheme, a unit should have been in production during last 3 preceding years and should reveal positive cash generation in 2 years out of last 3 years including cash generation in immediate preceding year and ready to provide prime security under Ist charge in favour of the Corporation.
Under this scheme, prevailing rate of interest shall be charged and rebate @ 1% for timely payment is available. Further the security debt ratio shall be kept at 2:1.
g) Silver Card Scheme
Introduction
The Corporation is already operating the "Gold Card Scheme" for its existing good borrowers and has now also introduced the "Silver Card Scheme" for its other potential good borrowers ie who have repaid more than 50% of the amount disbursed in term loan. Under this scheme the Corporation provides financial assistance as would facilitate the entrepreneurs to save the higher cost of funds which would otherwise have to be borrowed from a private financier.
Objective
To provide financial assistance to the borrowers of the Corporation to meet out their requirement, either for working capital need or to acquire fixed assets or both, without going into detailed appraisal.
Eligibility Criteria
- Entrepreneurs identified by the respective branch should fulfil the following eligibility criteria:
- The unit should have been operating/dealing with the Corporation for atleast four years and 50% of the loan disbursed should have been repaid.
- The existing debt equity ratio should not be more than 1.5:1 as per the balance sheet of the last financial year.
- The amount of the unit should have been classified as standard/sub standard assets in the last 3 financial years and as standard category, with no overdues, as on the date of application.
- The borrower should not have availed any benefit by way of waiver of interest/penal interest in the last 3 financial years, including the current financial year. In case any benefit has been availed in the last 3 years, the same shall have to be redeposited.
- The unit should have earned cash profit at least in one year out of the last two preceding years.
- There should be no overdue in the loan account of the unit as well as its sister/associate/family concern.
- The overall track record of the unit should
be by and large satisfactory.
Note: With the approval of CMD the
unit can be sanctioned fresh Gold Card Loan by accepting pre-payment
without premium from Silver Card Holders in case their repayment is
satisfactory for a minimum period of one year and if the concern fulfills
the eligibility criteria of Gold Card Loan scheme.
The maximum eligible loan shall be an amount equal to 50% of the loan repaid against principal in term loan (loan repaid under WCTL shall not be considered) and shall be considered in two parts:
Floating limit : Equal to 10% of total loan admissible may be availed by the borrower from any of our BO, including Delhi Sub Office any time during currency of loan. The loan so availed shall have to be deposited within the LDR of the fixed limit.
Note:
- The floating limit shall be available to the concern whose total admissible loan is Rs.10 lac or above.
- The minimum floating limit shall be Rs.0.50 lac., while the maximum limit is restricted to Rs.2.50 lac, irrespective of the admissible amount.
- CMD can enhance eligible amount of loan under Silver Card Loan Scheme to the extent of Loan repaid (instead of 50% of loan repaid) in case the Security Debt Ratio after considering Silver Card Loan remains more than 2:1.
The outstanding in existing loan accounts and proposed loan ie. Total debt of the unit from the Corporation should not exceed 50% of the total security of fixed assets mortgaged to the Corporation. For the purpose of calculation of security, MRV of land and building and book value of P&M and MFA shall be considered. The minimum security debt ratio shall not be less than 2:1.
Interest rate
The unit will have the option to choose fixed or flexi rate of interest. The loan carries a rate of interest @ 0.5% below the prevailing rate. However the scheme does not carry the facility of rebate on timely payment.
Liquidated Damages
Liquidated damages @ 2.00% over and above the interest rate shall be charged for the amount of default and for the period of default if the default extends even upto two quarters.
Service charges
Processing charges @ 1% of amount to be disbursed shall be charged at the time of disbursement.
Margin and Promoter's contribution
No additional margin and promoter's contribution shall be required, provided the existing debt equity ratio does not exceed 1.5:1.
Repayment and Moratorium period
The loan shall be repayable in maximum 5 years in quarterly instalments, including the moratorium period. The moratorium period for payment of principal sum would be six months. However, interest shall be paid quarterly.
Disbursement
Fixed limit: The sanctioned amount shall have to be availed of within 6 months from the date of communication of intention of sanction and the disbursement shall be released in maximum three instalments.
Floating limit
Floating limit as and when availed of, shall be payable on or before the last date of repayment.
h) Tatkaal Scheme
Introduction
As is self-evident from the name itself, the 'Tatkaal scheme' provides immediate financial assistance to the Corporation's itself good borrowers without entering into detailed examination and detailed appraisal.
Scope and Objectives
Financial assistance under the scheme shall be provided to the following purposes:
- To meet out the working capital requirement increased due to receipt of specific order from Government, Defence or other Government Department and reputed established private group.
- To meet out increased working capital requirement in order to execute specific export order.
- To meet out immediate fund requirements for purchase of plant and machinery exhibited at international/national level exhibitions and the said plant is available at attractive terms compared to cost of plant and machinery in the open market.
- To consider additional working
capital requirement during peak season in seasonal industries (like cotton
ginning and agro based industries etc.) not exceeding 30% of the WCTL
considered by bank/corporation, for this purpose subject to the following
conditions:
(1) There should be adequate justification
of additional working capital requirement in the peak season and also
no additional working capital requirement has been made available by
the banker during the peak season.
(2) The security margin in agro based and seasonal industries is kept at 40% which should continue to be kept/maintained intact while calculating additional working capital requirement in peak season.
Eligibility Criteria
Units fulfiling the following norms shall be eligible for loan under the scheme:
- The unit should be an existing one and assisted by the Corporation, irrespective of whether the account of the unit is in operation or has been squared up in the past.
- The unit should be in production during the last 3 preceding years on date to date basis and the working results of at least 2 years out of 3 years should reveal positive cash generations, including positive cash generations in the immediate preceding year.
- The unit should have repaid at least 30% of the loan disbursed.
- The unit's account should have been classified as standard assets during the last 3 full preceding years.
- The unit has not availed of any concession / relief by way of reschedulement, except refixation based on actual loan disbursed, during last 3 years. In case any unit/entrepreneur or its sister or family/associate concern has availed the benefit of rebate/relief by way of waiver of penal interest/interest in the last 3 financial years, the same is required to be refunded/re-deposited.
- There should be no overdues in the loan account of the sister/associate concern, if any, of the unit financed by the Corporation.
Financial assistance under the scheme shall extend above Rs.10 lac and upto Rs.50 lac, subject to a maximum exposure of Rs.500 lac (including outstanding in existing term loan account). However, in case of proprietor/partnership, the maximum limit of assistance shall be of Rs.200 lac.
A higher requirement of loan (upto Rs.100 lac) may also be considered on the merits of the case.
Admissibility of loan
The admissibility of loan shall be calculated as under:
Purpose Security margin
(a) On working capital 25%
requirement
(to execute the specific
orders)
(b) On plant & machinery (i) 25%
(ii) 50% in case of P&M based on virgin/new technology.
Repayment & Moratorium period
Initially the term loan will be provided for a short period extending to one year. However, where the loan is availed for acquiring plant & machinery, the repayment period may later on be converted into regular loan, payable in 3 years. In case the party wants to repay it earlier, no prepayment charge would be levied. The repayment shall be made in equated quarterly instalments.
The moratorium period shall not exceed 6 months from the date of release of funds.
Security
(i) First charge/first pari passu charge by way of mortgage of land and building and hypothecation of plant and machinery etc.
(ii) First charge/exclusive charge over the fixed assets proposed to be created out of the proposed assistance or on the current assets (including debtors) if the assistance is proposed to be utilized for working capital requirement.
Rebate
While no rebate is offered under the scheme in the first year, a rebate on timely payment, however, shall be available in the subsequent two year period.
Service charges
Annual service charges @ 1% p.a.payable quarterly on the outstanding amount for term loan, is payable alongwith equated quarterly instalment.
Security Debt Ratio
A minimum security debt ratio of 1.5:1 shall be maintained under the scheme. For the purpose of calculation of security debt ratio, MRV of land (RIICO's present rate) and building and WDV of plant & machinery shall be considered.
Application and Documentation fee:
The loan under the scheme shall carry:
· The application form shall be deposited alongwith application fee @ 0.1% of the loan amount.
· Documentation charges : @ 1% of the loan intended to be sanctioned are also payable.
Interest rate
The loan shall bear the rate of interest prevailing as on the date of first disbursement.
Liquidated Damages
Liquidated damages @ 2.00% pa. Shall be charged on the amount of default for the period of default, over and above the interest rate applicable.
Disbursement
The amount shall be released in single instalment or in parts if so required by the unit, after ensuring the following:
- Minimum security debt ratio of 1.5:1
- Debt equity ratio of 2:1 or less
- PDC's have been acquired.
- Fixed assets are fully insured.
- In case of company, charge in favour of the Corporation has been filed.
- Unit is fulfiling all eligibility criteria.
- There is no overdue in the loan account(s) of the unit and also in the sister concern's account.
The loan shall be repayable through post dated cheques in equated quarterly instalments.
Sanctioning Authority
All loans irrespective of amount shall be processed and considered at HO. The loan shall be sanctioned by CMD or the Committee to be constituted by CMD.
i) PLATINUM CARD LOAN SCHEME
Introduction:
RFC is providing financial assistance to the SSI and medium scale units since last four decades. During the course of financing, a number of entrepreneurs have established themselves as good borrowers (GB) of the Corporation and the Corporation has already taken steps to provide financial assistance to them on liberal terms through its various exclusive schemes.
In order to encourage the existing entrepreneurs/good borrowers to have continued business relationship with the Corporation in a competitive business scenario, the Corporation has now introduced a new scheme termed as "Platinum Card Loan Scheme" so that the existing entrepreneurs availing loan facilities under GB schemes with satisfactory repayment behaviour may be further elevated/upgraded under this new scheme.
Purpose:
Providing of financial assistance to the existing good borrowers of the Corporation availing loan facilities under GB Schemes, with satisfactory repayment behaviour, to meet out their immediate requirement, either for working capital limit or to acquire fixed assets or both.
Eligible Units:
- Existing gold card holders with proven track record of repayment of two years under Gold Card Scheme.
OR
- Existing gold card holders with proven track record of repayment of one year under Gold Card Scheme and two years in other Good Borrowers Schemes.
Note: This facility would not be available in joint finance cases.
Eligibility criteria:
- The existing debt equity ratio of the unit is not more than 1.5:1 as per balance sheet of the last financial year.
OR
- On considering the proposed platinum card limit, the debt equity ratio would not exceed 2:1.
- Working results and financial performance of the unit should have been satisfactory in the last 4 financial year and it should have revealed positive cash generation at least for 2 years in the last 3 years.
- There should be no overdue in sister/associate/ family concern of the unit and also no benefit of waiver of penal interest should have been granted during last three years.
- The working result of the concerns should justify repayment of existing and proposed loan.
Eligible amount:
The eligibility of loan shall be assessed by the Corporation, which shall not be more than 1.25 times of the loan repaid against principal in term loan, including UPGB and short term loan under GB scheme (loan repaid in WCTL/Silver Card/Gold Card loan account shall not be considered).
- The eligible amount under Platinum Card Scheme would be considered in two segments ie. Fixed limit and floating limit.
- The floating limit would be equal to 10% (in multiple of Rs.0.50 lac) of total platinum card loan admissible, subject to maximum of Rs.5.00 lac.
- Platinum card would be considered only in the cases where admissible loan under this scheme is Rs.10 lac or above.
- The maximum loan admissible under Platinum card loan scheme on the basis of security debt ratio is as under:
| Security Debt Ratio | Loan admissible |
| 1.75:1 | Equal to 5 times of cash generation |
| 2:1 | Equal to 6 times of cash generation |
| 2.5:1 | Equal to 8 times of cash generation |
| 3:1 | Equal to 10 times of cash generation |
The security debt ratio should not be less than 1.75:1. For the purpose of calculation of security, MRV of land and building and book value of plant and machinery and MFA (subject to maximum of MRV of land and building) shall be considered.
Note: If any gold card holder becomes eligible for platinum card, while considering the eligible amount under Platinum Card Scheme, the outstanding in existing gold card account will be simultaneously squared up and shall be upgraded to the Platinum Card Scheme by way of roll over. In other words, the entrepreneur cannot have gold card as well as platinum card simultaneously. However, no prepayment charges would be charged for such upgradation of gold card loan amount. The borrower shall, however, have to surrender his gold card to get Platinum Card.
Processing of loan application:
No detailed appraisal would be carried out. Only entrepreneurs shall be identified by analysing past track records with regards to repayment behaviour with the Corporation and financial performance for the last four financial years.
Application and application fee:
After prima facie clearance of the case of the unit, the entrepreneurs shall submit formal application in the prescribed format alongwith the application fee as per the existing norms.
Margin and promoter's contribution:
No additional margin and promoter's contribution will be required to be brought in, provided that the existing debt equity ratio is not more than 1.5:1. However, if after proposed availment of platinum card limit, the debt equity ratio increases beyond 2:1, the concern/unit has to bring additional capital or unsecured (Interest Free) loan so as to keep the debt equity ratio below 2:1.
Processing charges:
Processing charges @1% of amount to be disbursed shall be charged at the time of disbursement.
Interest rate:
The unit would have the option to choose fixed or flexi rate of interest at the time of filing the application. Request for change in option in interest from fixed to flexi and vice versa can be considered by the GM(Loans) before execution of loan documents. After execution of loan documents, no such request shall be entertained.
- Fixed rate of interest: 1.25% below the prevailing applicable rate of interest under the General Term Loan Scheme, interest being payable quarterly, with no further rebate.
OR
- Flexi rate of interest : 1.25% below the rate of interest applicable under the General Term Loan Scheme prevailing from time to time.
Note:
- In case borrower opts for flexi rate of interest, no premium on prepayment would be charged.
- No rebate in interest is available on timely payment under this scheme.
Liquidated damages:
No default in intrest and principal shall be allowed. In case of default following action shall be initiated :
a)Action u/s 138(b) of NI Act .
b) The status of card holder may be switched over to general loan scheme if the default is not regularised with in 15 days of default .
c) The card, if any, issued to such borrower may stand cacelled .
d)The corporation shall charge liquidated damages @ 2% p.a on the amount in default for the period of default from day one.
Repayment priod:
A)Fixed limit :
i)The loan shall be repayable in maximum 5 years in equal annual instalments including a moratorium period not exceeding six months through PDCs against fixed limit. The first installment shall fall due on first day of February falling immediately after expiry of six months from the date of first disbursement .
ii) The unit may pre-pay without attracting pre payment premium.
iii) The concern shall make the payment of interest on first day of each quarter i.e March,June ,September and December.
Moratorium period:
The moratorium period for payment of principal sum would not exceed six months. However, interest shall be paid quarterly.
Disbursement:
The disbursement will be released in maximum two instalments.
Validity of sanction:
The sanction will be valid for 6 months only from the date of communication of sanction. Extension in sanction beyond 6 months to 12 months shall be considered by the sanctioning authority.
- Replenishment of loan amount is also eligible under the scheme, if borrower has repaid at least 40% of loan amount and fulfilling other requirements of the scheme with encouraging working results.
- The borrower may give his option to avail Floating limit upto 20% of loan admissible at the time of applying loan under the scheme.
a) Interest rate:
(i) Prevailing rate of interest is chargeable in all the Schemes of good borrowers, potential good borrowers, UPGB Scheme and WCTL to non assisted units and Special purposes WCTL Scheme.
(ii) Intt. at 1% below the prevailing rate of interest is chargeable under Gold Card Scheme.
b) Processing Charges:
Processing charges @ 1% p.a. is chargeable under WCTL, SPWCTL, WCTL to non assisted units in both the Schemes for good borrowers and PGB Scheme.
c) Rebate
Rebate for timely payment is available as under:-
(i) Good borrower scheme - 2%
(ii) Loan above Rs. 100.00 lacs - 2.5%
(iii) Under Potential good borrower scheme - 1%
and working capital term loan to non
assisted units.
(iv)Gold Card Scheme - Nil
d) Repayment:
Under all the Schemes (except Gold card scheme)repayment is taken through PDCs.
10. DELEGATION OF POWERS
Exclusively powers for sanction of loan are available to field offices under GB Schemes to the extent power available in general term loan scheme. However power for sanction of loan under Gold card scheme and WCTL to non assisted units are available at HO only irrespective of amount.
11. Application form under different schemes of Good borrowers:-
i. Short term loan(STL) - Annexure-A
(both under GB Scheme and)
Potential GB scheme )
ii. Working Capital term loan(WCTL) - Annexure-B
(Under GB Scheme/Potential GB
Scheme and WCTL to non assisted
units)
iii. Unit promoted by Good borrower(UPGB) - Application
form above Rs. 2.00 lac applicable
under general term loan Scheme may
be used.
Note: These forms are available on Website and can be electronically transmitted. Application form can be submitted to the office along with cost of form besides application fee prescribed.
Application forms for Special purposes WCTL Scheme and Gold Card scheme can be obtained from our branch office.
Please ensure filling of correct application form relating to concerned scheme.
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