A commonly used format for monthly stock-cum-production statements.
Understanding how the bank calculates your borrowing limit helps you manage cash flow effectively. Here is the standard math behind it:
Securing an Open Cash Credit (OCC) facility from Canara Bank is an excellent way to maintain healthy working capital for your business. However, to keep this credit line active and accessible, you must submit a monthly stock statement.
Canara Bank Open Cash Credit (OCC) Stock Statement Form , commonly identified as Form NF 902 Canara Bank Occ Stock Statement Form Download
The date as on which the stock is reported (usually the last day of the month). Part 2: Stock Details Table
Canara Bank OCC Stock Statement Form Download: A Comprehensive Guide
Drawing Power (DP)=Net Funded Stock×(100%−Bank Margin Percentage)Drawing Power (DP) equals Net Funded Stock cross open paren 100 % minus Bank Margin Percentage close paren Example Calculation: ₹10,00,000 Sundry Creditors: ₹2,00,000 Eligible Debtors ( ₹4,00,000 Bank Margin on Stock: 25% (Borrower contribution) Bank Margin on Debtors: 40% Calculation: Net Stock for DP: ₹10,00,000 - ₹2,00,000 = ₹8,00,000 However, to keep this credit line active and
. This document allows the bank to assess your inventory value and determine your Drawing Power (DP) Official Form Versions Canara Bank
When filling out the NF-540 or NF-902 form, you must accurately fill in the following sections: Company or individual name. Account Number: Your OCC/CC account number.
: Detailed list of raw materials, work-in-progress, and finished goods, including quantities, unit rates, and total valuation. Part B: Production and Sales Statement This document allows the bank to assess your
: Enter stock details, ensuring the math for total valuation is correct. Part B : Provide production and sales summaries.
While formats may vary slightly depending on your business size, a standard Canara Bank OCC stock statement contains these critical sections: 1. Basic Account Information Name of the Borrower / Business Entity OCC Account Number Sanctioned Credit Limit Statement Date (usually the last working day of the month) 2. Inventory / Stock Details
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