About MFI

Considering the present growth of SHG/JLGs and demand for micro credit in the State, the Bank has adopted the model of financing to NBFC-MFIs/Societies for onlending to SHG/JLGs.


  • Not less than 85% of net assets (total assets other than cash and bank balances and money market instruments) of NBFC-MFI/ Societies are in the nature of ‘’qualifying assets.’’ The definition of Qualifying assets will be as per the RBI guidelines
  • The applicants should comply with RBI guidelines in respect of caps on margin and interest rate and also pricing guidelines so as to be eligible to classify these loans as priority sector loans
  • The applicants should maintain principal deposit A/c with the Bank

Loan Details

Documents to be submitted by NBFC-MFI/ Society

  • Loan application of NBFC-MFI
  • RBI registration certificate of Company
  • Company registration Certificate
  • ITR of Company
  • Rating Certificate of the Company
  • Audit report with Balance Sheet and Profit & Loss A/c for last 2 years
  • MoA and AoA of the Company
  • Certificate for commencement of business
  • Board resolution for availing loan from the Bank
  • Details of beneficiaries
  • JLG assessment sheet
  • Registration Certificate issued by RCS (in case of Society)
  • Bye-law, Pan Card of MFI/ Society
  • Proceeding of AGM fixing Maximum Borrowing Power (in case of Society)
  • Personal guarantee by Managing Director along with two other Directors ( in case of Company) and Secretary & Chairman ( in case of Society )
  • Corporate guarantee in case of Company

Security-NBFC-MFI/NGO/ Society having no past track record with our Bank will be eligible for maximum loan amount of Rs 50.00 Lacs for 1st dose, Rs 100.00 Lacs for 2nd dose, Rs 1.50 Crore for 3rd dose and Rs 2.00 Crores for 4th dose with security coverage of at least 15%-20% , either in liquid or collateral form. The applicants having satisfactory past track record for consecutive atleast four (4) nos. Of loan A/cs, the loan amount to be financed may be reduced by cash collateral to the extent of 10%-15% in shape of term deposit of borrowed amount without insisting security coverage.

Interest-The rate of interest will be applicable as per H.O Circular issued from time to time.

Repayment-The entire loan with interest will have to be repaid in 36 EMIs.

Apart from above stated loans, the Bank also gives Medium Term loans for Dairy, Poultry , Fishery and other agri allied activities.