Yuva Sashakt

Sl. No.	Particulars	Proposed Guidelines
1	Purpose	To provide credit facility for business requirements of MSMEs to purchase/acquire equipment related to their business activity.
2	Eligibility	Non-salaried Individual and Proprietorship Firm including Gig Workers, Freelancers and Self-Employed persons.
3	Age	Entry Age Minimum: 18 Years Maximum: 29 Years
4	Loan Quantum	Term Loan Minimum: ₹25,000 Maximum: ₹2,00,000 Loan quantum to be 5 times of the average monthly eligible income or ₹2,00,000 or amount of loan requested, whichever is lower.
5	Consumer CIBIL Score/CMR	Individual having Consumer CIBIL Score 675 and above For Proprietorship Firm, Commercial CIBIL MSME Rank (CMR) from CMR-1 to CMR-6 Minimum CIBIL Score/CMR rank is not required for customer having no credit history or credit history is insufficient to rank (NA)
6	Margin	Nil
7	Earning History	Minimum 6 months of earning history with a continuous or reasonably stable earning trail.
8	Monthly Income	Minimum monthly average net income should be ₹15,000.
9	Income Assessment	The proposed six-month average income assessment is considered appropriate for smoothing daily, weekly and seasonal variations. Following parameters will be analyzed to decide the annual income of the customer: a) Individuals maintaining SB/CA/CC account in the name of the firm or in individual name but not linked to UPI/POS, 8% of annual credit summation will be taken as annual income (Average for last 12 months. 6 months income to be annualized). b) Individuals with UPI/POS linked to SB/CA/CC account in the name of the firm or in individual name through which the business transactions are routed, 20% of total credit summation of digital transactions will be taken as Annual income (Average for last 12 months. 6 months income to be annualised). One-off credits, which are not regular in nature and non-indicative of income from business, may be removed from credit summation. Thus, the statement of the account, where the business transactions or professional fees are being credited will be analyzed to ascertain the nature of transaction and assessing annual income as stated above.
10	FOIR (Fixed Obligation to Income Ratio)	[(Existing EMI + Proposed EMI) / Monthly Net Income] × 100, Maximum 40%, including the proposed EMI.
11	Repayment Term	Term Loan repayable from 12 to 48 Months (maximum) including moratorium period of 3 Months (maximum).
12	Security Coverage	Primary Charge by way of hypothecation on assets created/purchased out of Bank Finance. Security Coverage No Collateral Security/Third Party Guarantee to be obtained. CGMFU coverage is mandatorily to be obtained under this scheme.
13	Rate of Interest	EBLR + 2.50% i.e. UCO Float Rate + 2.50% with a cap of maximum 8.50% p.a.
14	Upfront Fee / Documentation Charges / Review Charge / Pre-payment Charges / Any Other Charges	Nil
15	Insurance	As per extant Credit Risk Management Policy of Bank in vogue. Personal accident insurance cover under PMSBY to be offered at customer's cost.
16	Documentation	KYC Documents Bank Account Statement (last 12 Months) Udyam Registration Number Platform earning statements or dashboard extracts Consent based Digital Data