DIRECTORATE OF REGP
KHADI AND VILLAGE INDUSTRIES COMMISSION
3,IRLA ROAD, VILE PARLE(W), MUMBAI-56.

 

NO: REGP/M-211/Policy/2003-04                                                                            Date: 22/10/2003

C I R C U L A R

 

Sub :- Time limit for submission of Margin Money claims to the Nodal

                               Banks and KVIBs by Financing Branches under REGP- reg.

*****************

        As per KVIC REGP Scheme, the financing branches of Banks are supposed to submit the Margin Money claims to their Nodal Branches with in the current quarter for the previous quarter. Parliamentary Standing Committee of Ministry of ARI while reviewing performance of REGP have expressed dissatisfaction that Margin Money claims are delayed resulting in delay in release of fund creating hurdle in the Scheme implementation as well difficulty to the entrepreneurs.

        It is noticed that Banks have been submitting claims not only after 3 months, in large number of cases beyond six months and even after a year. It is not possible to meet such claim as it has bearing on budgetary process of fund release by the Govt.

        In view of above, it has been decided that laxity and delay in the part of financing branches in late submission of M.M. Claims can not be accepted and they are to submit the same to their Nodal Branches/KVIB subsequently from Nodal Branches to KVIC before completion of the current quarter for the previous quarter, i.e. within 3 months as per the scheme.

        As regards, M.M. claims pertaining to the year 2002-03, it is also decided to enforce a cut-off-date as 3oth September 2003. The Nodal Branches of various Banks will have to reject the M.M. claims pertains to the year 2002-03 received by them after the above cut-off-date. This is also applicable to the REGP units receiving Margin Money from State KVI Boards as well.

        This will come into force with immediate effect.

                                                                                                                             Sd/-

CHIEF EXECUTIVE OFFICER

To,
1. CGM/GM of All Public sector Banks
2. All State/Regional Director, KVIC
3. All State KVI Boards.

Copy to :-
1) All Nodal Branches of Public Sector Banks at Mumbai.
2) All Nodal branches of Public Sector Banks in all States.

                                                                                                                               Sd/-

CHIEF EXECUTIVE OFFICER