Cent Engineering loans launched

Cent Engineering targets a wide set of manufacturing activities including forging and casting, auto‑part manufacturing, engineering tools, metal extrusion (aluminium, copper), CNC‑machine production, metallurgy, brass, rolling and re‑rolling mills and rare‑earth mineral extraction. (centralbank.bank.in) The product pairs working‑capital (CC/OD) with term‑loan finance, with sanctioned amounts spanning a minimum of ₹11 lakh to a maximum of ₹50 crore. (centralbank.bank.in) The published interest band for the scheme is 7.75%–8.45%, and working‑capital limits are structured for annual renewal where CC/OD tenure is one year. (centralbank.bank.in) Underwriting and liquidity controls include a 25% margin on WC (CC/OD) and term loans, discounting (DP) against book debts capped at 60% of the WC limit, and eligibility of receivables only up to 90 days for DP. (centralbank.bank.in) Repayment for term loans is allowed up to 120 equal monthly instalments, with a maximum moratorium of 24 months or up to DCCO and a possible additional 3‑month moratorium post‑DCCO for loans above ₹7.5 crore where justified. (centralbank.bank.in) Security rules require primary security in the assets created with the bank finance plus collateral in the form of SARFAESI‑compliant immovable property with a realisable value of at least 30% of the loan amount. (centralbank.bank.in) CGTMSE guarantee is available up to ₹5 crore; for financings above ₹5 crore and up to ₹10 crore the scheme imposes extra conditions including a minimum one‑year business vintage, commercial CIC maximum DPD of 30 days, and a consumer CIC score of at least 750 for borrower/partners/directors/guarantors. (centralbank.bank.in) Eligibility is restricted to existing and new MSME units (individuals, proprietorships, partnerships, LLPs and companies) holding UDYAM registration and GST registration where applicable, and sanctioning is expected under sole‑banking arrangements.