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
|
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 |
|
Same Formula as in OTS 2002 |
do |
|
|
|
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 |
|
Principle outstanding + 10 % OTI |
|
|
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 |
|
|
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 |
|
|
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 |