This is the most critical automated section of your Excel sheet. It applies the bank's specific margins to find your actual available credit limit. How Drawing Power is Calculated in Form NF 902
Always submit your stock statement within the stipulated time (usually within 10-15 days of the month-end). Delayed submissions can lead to a reduction in your Drawing Power or penalties from the bank.
If you knowingly submit a false stock statement (e.g., showing stock that doesn’t exist), you could face:
Use one worksheet for the inventory table and a separate summary sheet for calculations. Freeze the header row for easy data entry. Enable for the "Classification" column (allow only Raw Material, WIP, Finished Goods, Consumables).
: The form requires confirmation that the declared stock is fully insured against fire and other risks. specific local Canara Bank branch contact to confirm their preferred submission method? canara bank stock statement form nf 902 excel format
The bank uses this statement to monitor the primary security of your loan. Submitting Form NF 902 periodically (usually monthly or quarterly) is a covenant in your loan agreement.
: Item description, quantity (opening/closing), unit rate, and total value. Storage Info : Specific godown addresses where stock is held. Stock Categories
: Borrowers often find the NF 902 "interesting" because it determines how much of their sanctioned loan they can actually use that month. If your stock is low, your "Drawing Power" drops, even if the bank has approved a higher limit.
: Automated math eliminates manual computation mistakes. This is the most critical automated section of
:Your drawing power can never exceed your total sanctioned limit. Excel Formula: =MIN(Total_Drawing_Power_Cell, Sanctioned_Limit_Cell) Best Practices for Filing Your Monthly Stock Statement
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.
| Particulars | Amount (₹) | Remarks | | :--- | :--- | :--- | | | ₹ 18,71,500 | | | Less: Excluded Category (e.g., Stocks Purchased on Credit) | ₹ 27,53,261 | Negative? -> Report figure likely an example; in actual practice, value under this head is deducted | | Less: Margin (e.g., 25%) | ₹ ... | | | Net Drawing Power | ₹ ... | |
: Automatically deduct the bank-mandated margin (e.g., Total Value * 0.75 for a 25% margin). Submission & Resources NF 902 Stock Statement | PDF | Money - Scribd Delayed submissions can lead to a reduction in
: Editable formats are available on document sharing sites like Scribd or through legal form providers like US Legal Forms .
A complete stock statement report typically includes the following sections:
Securing and maintaining a working capital limit like a cash credit (CC) or overdraft (OD) facility requires regular compliance. For business owners and accounts professionals dealing with Canara Bank, submitting the monthly inventory and debtors report is a mandatory ritual. This reporting is done using a specific document known as .