Objectives: CSCC aims at prevailing adequate and timely credit i.e. Working Capital/or block capital or both to small artisans, handloom weavers, Service sectors, fishermen, Self employed persons, Rickshaw owners, SHGs and other micro entrepreneurs, etc., for the banking system in a flexible, hassle free and cost effective manner. The facility may also include a reasonable component for consumption needs.
Nature of Financial Accommodation: The credit facility extended under the scheme is in the nature of composite loan including term loan and revolving cash credit.
Quantum of Limit: In general loan account will be Rs.25000/- per borrower of SHG as composite loan.
Issue of Cards: The Beneficiary under the scheme should be issued a laminated Credit Card and a pass book. A passport size photograph of the applicant will be affixed on the Card at the space provided for. The card holder would be required to produce the card and the passbook whenever he/she withdraw cash from the account.
Insurance: Beneficiary under the scheme should automatically be covered under the Janatha Personal Accident Insurance Cover with General Insurance Co operation Limited; the policy covers the body injury/death resulting solely and directly from accident caused by external, violent and visible means.
Rate of Interest: Rate of interest will be 9% under this scheme.
Security: Up to Rs.25000/- Hypothecation of Stock/Asset. For more than Rs.25000/- Hypothecation of Stock and any other collateral securities or Third Party guarantee of suitable person other than family members