Bank Finance

abhishreshthaa

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Bank Finance:-
The bank sanctions 90% of the project cost in case of general category of beneficiary/institution and 95% of the project cost in case of weaker section beneficiary and disburse the full amount suitably for setting up of the project.


Though Bank will claim Margin Money on the basis of projections of Capital Expenditure (C.E.) in the project report and sanction thereof, Margin Money on the actual availment of C.E. only will be retained and excess, if any, will be refunded to the OCKVI (Office of the Commissioner for Khadi and Village Industries), immediately after the project is ready for commencement of the production.


OCKVI is no more in existence and now the fund are directly received by the Commission.
 
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