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R I A

Publication of

Information under

section 4(1)(a)

of the Right to

Information Act,

2005.

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Publication of

Information under

section 4(1)(b)

More.....

 

 

 

 

 

 

2. SECURITY FOR CREDIT SALES :

This order is effective from 05.08.2006 and until further orders

 
 
2.1       It is decided to give more emphasis in future to enroll customers on the security of Bank Guarantee / FIxed Deposit Receipts ( BG /FDR) . Outside Karnataka State it is compulsory to to sanction loans only against the security of Bg / FDRs.
 
 

2.2       In the state of Karnataka to encourage and enroll more number of customers , security in the form of immovable properties may be taken from all the new customers by way of Registered Mortgage in favour of KSMB and the registration expenses namely registration fee and , stamp duty has to be equally shared by the customer and the KSMB. These customers are not eligible for the security discount.

2.3       No credit should be allowed on the security of movable properties.

 
 

2.4 SECURITY DISCOUNT :

All the customers who have furnished BG /FD to cover 100% of their credit as security, shall be eligible for a discount of Rs 3/- per Kg as security discount and it will be allowed in the bill itself at the time of sale.

 
 

3. INDENT PURCHASE :

For indent purchase a minimum margin of Rs 15/- per Kg over and above purchase price and market fee is added for delivery in Banagalore within 24 hours of purchase and a minimum margin of Rs 20/- per Kg over and above purchase price and market fee for delivery in outstation branches within 48 hours of purchases. If the customer do not take delivery of the goods within 24 hours /48 hours of purchases under credit indent system an amount equivalent to the margin that would have been charged shall be debited to their account and recovered. ( guidelines as per order no 814 dated 27.10.2003.

 

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