TO SOCIETIES

1) CASH CREDIT LOANS

On the recommendation of the Handloom and Textile Department, Under the scheme of NABARD Refinance, on the basis of the Societies having Stock, Weavers Advance and Rebate receivables from Khadi Board/Commission and on the basis of last year production and sales activities, our bank advances Working Capital facility under Cash Credit Loan with low rate of interest to Handloom and Power loom Weavers Society.

Weavers Society Cash Credit Loan Checklist

1. Certificate from Deputy Director of Handloom and Textile Department Belagavi.
2. Loan Application.
3. Society Registration Letter.
4. Last year Balance Sheet (January to December).
5. Board of Directors list with Secretary.
6. Insurance Policy.
7. Resolution Copy of Committee Meetings
   • Resolution copy for appointment of Board of Directors in AGM.
   • Resolution copy for appointment of Chairman.
   • Resolution copy for application of Cash Credit loan and other documents to Belagavi DCC Bank Ltd. Belagavi, under NABARD scheme along with signature of the Chairman, two Directors and the Secretary individually and jointly.
   • Resolution copy of sanctioned loan amount along with signature of the Chairman and all directors and the secretary who take the responsibility individually and jointly.
8. List of woolen advanced to members.
9. Property Extract.
10. Encumbrance certificate from Sub Registrar.
11. Undertaking from all the Directors.

2) SHORT TERM LOANS

On the recommendation of Handloom and Textile Department, Under State Government Interest Subsidy Scheme, our bank advances short term loan facility to Handloom and Power loom weavers and further to sheep farming and production of wool in the district through Co-Operative Societies at subsidized rate of interest.

Weavers Society Short Term Loan Checklist

1. Certificate from Deputy Director of Handloom and Textile Department Belagavi.
2. Loan Application.
3. Society Registration Letter.
4. Last year Balance Sheet (April to March)
5. Resolution Copy of Committee Meeting with Borrowers member list.
6. Board of Directors list along with Chairman and Secretary.
7. Registration Certificate of Society.
8. Property Extract.
9. Resolution copy of sanctioned loan amount along with signature of the Chairman and all directors and the secretary who take the responsibility individually and jointly.
10. Undertaking from all the Directors.
11. Undertaking from all the Directors.

3) EMPLOYEES COOPERATIVE CREDIT SOCIETY LOAN(MEDIUM OTHERS LOAN)

1. These loans are granted to the Employees Co-operative Credit Societies.
2. Rate of Interest is 14%.
3. Maxium Term is 36 months.
4. Eligible for all members of Employees Co-operative Credit Societies.
5. MonthlyInstallments with reducing interest rates.

Checklist

1. Loan Application
2. Loan Application.
3. Society's Resolution copy.
4. Byelaw copy Xerox of Individual Borrowing Limit of the society.
5. Byelaw copy Xerox of Outside Borrowing Limit of the society.
6. Byelaw copy Xerox of society cash balance limit.
7. Society Board of Directors Overdue list.
8. Board of Directors and Staff list with loans.
9. Authority letter issued by our bank through your authorized salary drawn officer.
10. Authority letter includes member retirement date,salary drawn details through your concerned officer.
11. Scrutiny form of Bank Inspector.
Employee Society 3 years audited balance sheet, Profit and Loss Account and RP. Receipt and Payment account upto BI scrutiny date.
12. Member loan demand and society recomendation list.