Schemes

FINANCIAL ASSISTANCE BY BICICO ( In Past)

Bicico has financed Term Loan/EFS assistance to Medium & Large Scale Industries in undivided Bihar (Now Bihar/Jharkhand State). In due course after enhancement in parameter of scale category Bicico also entertained Financial assistance to small sector.

BICICO provides financial assistance under the following schemes:

1. Normal Term Loan : Loan upto Rs 90.00 lakhs is provided for setting up an industrial unit in small/medium/large sector. The scheme should not be in the negative list of the Corporation.

2. Repayment period normally varies from 8 to 10 years.

@ Interest rate 15.5% (PLR)

1. Equipment Finance Scheme: An Industrial unit in operation for at least 4 years and running in profit for at least two preceding financial years may avail term loan upto Rs 90.00 lakhs for acquisation of machineries/balancing equipments.

2. The loan is repayable within five years.

Terms & Conditions:

To Get Financial Assistance an entrepreneur is required to submit applications in triplicate for Normal term Loan and in duplicate for Equipment Finance scheme in the prescribed application form along with copy of project reports to the Corporation at its office at 4th floor, Indira Bhawan ,Patna 800 001.

Prescribed application form for normal term loan can be obtained from the Industrial Promotion Division on payment of Rs. 400/- (Rupees four hundreds) by cash/demand draft/money order in favour of ''Bihar state Credit and Investment Corporation Ltd payable at Patna. Application Form under the Equipment finance Scheme is available free of cost.

ONE TIME SETTLEMENT (OTS) SCHEME
A MAJOR TOOL TO RECOVERY/ SETTLE DUES FROM UNITS FINANCED BY BICICO
FEATURES OF OTS * SCHEME 2002

Category

2(two)

Formula for OTS Calculation

  1. Amount disb. Less than 10 yrs as on 31.03.2002
  1. Amount disb. Above 10 yrs

OTS Amount

Cash disb x 2 times less csh repayment

Cash disb x 2.5 times less cash repayment,

Legal & Misc Expenses extra

FEATURES OF OTS 2004 and OTS 2006

were having same features as contained in OTS -2002 with more categories and concessions as given below.:

Different Categories

Formula

Less cash repayment

  1. General Category

Same Formula as in OTS 2002

do

  1. BIFR/Sick Category

 

 

Age of disb. Cash

Multiplying factor

 

Up to 10 yrs

Cash  disb x 1.25  times less cash repayment

do

10-15 yrs

Cash  disb x 1.50  times less cash repayment

do

10-20 yrs

Cash  disb x 1.75 times less cash repayment

do

Above 20 yrs

Cash  disb x 2 times less cash repayment

do

  1. Incomplete/                NonCommissioned  & sold off category

 

Principle outstanding + 10 % OTI

 

  1. Liqidation/ Litigation Category

 

Principle outstanding + 10 % OTI

 

* Minimum settlement amount was however not less than Principal outstanding

FEATURES OF OTS SCHEME 2009

Category

Formula

General   Category

Principle O/S as on 31.03.2009 + 10 %  of Pr. O/s + Legal & Misc  expenses

FEATURES OF OTS SCHEME 2013

Category

Formula

General   Category

Principle O/S as on 31.03.2013 + OTI @ 100% of existing Principle O/S  + Legal & Misc  expenses

FEATURES OF OTS SCHEME 2015

Category

Formula

General   Category

 

Sold off Category

Principle O/S as on 31.03.2015 + OTI @ 100% of existing Principle O/S  + Legal & Misc  expenses

Principle O/S as on 31.03.2015 + OTI @ 50% of existing Principle O/S  + Legal & Misc  expenses

FEATURES OF OTS SCHEME 2019

Category

Formula

 

Term Loan Scheme

 

  1. General   Category

 

  1. Sold off Category

Principle O/S as on 31.03.2019 + 10% of existing Principle O/ S

Principle O/S as on 31.03.2019

 

Unsecured Loan Scheme

 

  1. a) IFL & Seed Capital Assistance
  2. b) Preference Share
  3. c) Equity Share

Principle O/S as on 31.03.2019 + OTI @ 10% of existing Principle O/ S

Investment made (face value) + OTS @ 10% of Investment

Investment made (Face Value) only

Salient features of Business (Term Loan to units)

No of units Financed 273
No of units paid / settled 178
No of units remaining 95
Term Loan sanctioned (cumulative) Rs. 24230.00 Lakhs
Term Loan disbursed (cumulative) Rs. 16559.00 Lakhs
Achievement under OTS

BICICO has introduced several OTS Policy in the year 2002, 2004,2006,2009,2013, 2015 and 2019. The policy-wise achievement are as under:-


OTS POLICY No. of units settled
OTS -2002 13
OTS-2004 30
OTS-2006 06
OTS-2009 21
OTS-2013 03
OTS-2015 01
OTS-2019 34