If you are a borrower with (earlier Syndicate Bank) availing a Cash Credit (CC) or Overdraft (OD) facility against inventory or stock, you are required to submit a monthly stock statement. The specific form used is Form NF 902 .
: Section to deduct stocks purchased on credit, goods hypothecated to other banks, or slow-moving items from the total value. Drawing Limit Calculation
Need a customized NF 902 Excel template with formulas and automated drawing power calculation? Let us know in the comments below!
Using an automated Excel template simplifies this process, ensures accurate calculations, and prevents account irregularities. What is Canara Bank Form NF 902? canara bank stock statement form nf 902 excel format
The Stock Statement Form NF 902 is not a mere operational document; it is a under your loan agreement. Section 2(b) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, allows banks to enforce security based on information provided in such statements.
Setting up the formulas correctly inside your Excel format ensures automated, error-free results. Here is the step-by-step mathematical logic used within Form NF 902:
The Canara Bank stock statement form NF 902 is an essential document that helps customers to report their stock holdings and comply with the bank's requirements. By preparing and submitting the form in Excel format, customers can ensure accurate record-keeping, informed decision-making, and compliance with tax regulations. We hope that this article has provided a comprehensive guide on how to prepare and submit the Canara Bank stock statement form NF 902 in Excel format. If you are a borrower with (earlier Syndicate
Net Drawing Power = (Total Value - Exclusions) * (1 - Bank Margin %) .
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A standard, bank-compliant Excel sheet for Form NF 902 is divided into four main sections. You can set up your spreadsheet using the following structure: 1. Basic Information Header Field Name Description Your registered business name. Account Number Your Canara Bank CC/OD account number. Statement Date The last working day of the reporting month. Sanctioned Limit The maximum loan amount approved by the bank. 2. Stock and Inventory Breakdown (Section A) This section calculates the value of your physical stock. Drawing Limit Calculation Need a customized NF 902
Visit your home branch and ask the relationship manager or loan officer for the . Many branches maintain a soft copy on their internal system and can email it to you.
: Ineligible; excluded from calculations. 4. Drawing Power (DP) Calculation Table
Let’s look at a practical example of how Excel calculates this automatically: Asset Item Gross Value Bank Margin Bank Finance % Eligible DP ₹1,00,000 ₹75,000 Eligible Debtors ( ₹30,000 Total Drawing Power ₹1,05,000