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Manual 3

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TIME SCHEDULE FOR PROCESSING OF APPLICATIONS:

A. For projects costing up to Rs.1.00 lac Further, The loan is disbursed to the applicant within 30 days after completion of all the required formalities prescribed by the Corporation.
C. For projects costing above Rs.1.00 to Rs.5,00,000=00 The loan is disbursed within 5 months subject to completion of prescribed formalities by the Corporation and subject to receipt of sanction from the Apex Corporations.

VARIOUS STAGES OF PROCEEDING OF LOAN APPLICATIONS:

    The activity Chart/ Stages of processing of loan applications Time frame
In case of projects costing Rs. 1.00 lac (a) Receipt and scrutiny of application 5 working days
  (b) Survey and issuance of Sanction letter 5 working days
  (c) Vetting of documents by Finance & Accounts Section 10 working day
  (d) For seeking legal opinion in particular case from legal section 2 days
  (e) Final approval of GM/MD 8 days
In case of projects costing up to Rs.5,00,000=00(5 months) (a) Issue of letter for completion of formalities for the purpose of disbursement of loan 15 days
  (b) Documentation etc. by the applicant 15 days
  (c) Submission of the application/ proposal to the apex Corporation for sanction. 30 days
  (d) Obtaining letter of intent from the Apex Corporation 30 days
  (e) Acceptance of letter of intent by the Corporation 15 days
  (f) Issue of sanction letter for completion of formalities for the purpose of disbursement of loan 15 days
  (g) Documentation etc. by the applicant and disbursement/ release of sanctioned loan 15 days
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