LOAN POLICY
The credit exposure limit shall not exceed 15% of the capital funds of the Bank in case of individual borrower and 40% in case of group of borrowers. The maximum credit limits are as under:-
Individual Borrower – Rs. 9.22 Crore
Group of Borrowers – Rs.24.59 Crore
Delegation of Powers
Branches, after receipt of loan applications will scrutinize the documents obtained and send the loan applications to Head Office after proper recommendations, along with visit report to borrower’s place of business and property offered as security.
The loan applications are scrutinized at Head Office on the recommendations of the branches and placed before the Loan Committee. Loan Committee will process loan applications and then recommend proposals to the Board for approval.
The Board has also delegated specific powers to Branch Heads to sanction advances against bank’s deposits & against NSC, KVP, LIC Policy and for purchase of Vehicle (Non-Commercial).
Eligibility Criteria
- Borrower/s should be salaried, business class and professionals.
- Loans / advances are given to members only.
- Borrower/s should not be member of any other co-operative society / Bank.
- Borrower/s should be having sufficient repayment capacity.
- No loan/advance will be sanctioned to non-members except Banks own deposits like term deposits, recurring deposits.
- Borrowers/sureties should belong to NCT of Delhi and should be member of bank.