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Monday, 21-May-2012

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Akshya Urja Shops

SCHEME OF FINANCING FOR AKSHAY URJA SHOPS

Akshay Urja Shops are retail outlets which would sell and service all Renewable Energy Devices and Systems including Solar Energy Products. The network of Akshay Urja Shops would cover all the districts of the country. The Ministry of New and Renewable Energy (MNRE) will provide support to the shops in terms of soft loans through banks and monthly recurring grant & incentive for first two years of operation.

Eligible Beneficiaries

Private Entrepreneurs, Reputed NGOs and Manufacturer’s Associations are eligible for opening AUSs. The applicant for opening a shop will contact the concerned State Nodal Agency (SNA) and submit proposal for Akshay Urja Shops in the prescribed format.Incentives would be available only after sanction of Akshay Urja Shop by MNRE/SNA.

Validity of the scheme

Upto 31.03.2008

Eligible soft Loan

Maximum upto 85% of the cost of establishment of Akshay Urja Shop.

Maximum Loan amount Upto Rs. 10.00 Lakh as Demand/Term Loan

Applicable Interest rate to beneficiaries 7% per annum

Repayment period 5 years (maximum) Financial Support for new shops Monthly recurring grant of Rs.5,000/- per month towards manpower, electricity, telephone bills and other miscellaneous expenses. Eligibility for recurring grant or incentive will be worked out on the basis of the turnover for each six-month period. If the six-monthly turnover falls below Rs.1.5 lakh during the first year, or Rs.3 lakh during the second year, the shops will not be eligible for any grant or incentive.

An incentive of Rs5,000/- per month based on minimum turnover of Rs.50,000/- per month during the first year and Rs.1,00,000/- per month during the second year of operation. The shops will not be eligible for any incentive for a particular month if the turnover is below the minimum amount.

These will be available to the new shops for a period of 2 years after their establishment

Announcement

Watch recorded webcast for Press Meet 30.04.2012

Watch recorded webcast for Analyst’s Meet 30.04.2012

Analyst Presentation for 31.03.2012

Financial Result for year ended 31.03.2012

Any complaint regarding NEFT transactions during 20.02.2012 to 6.03.2012 may be escalated to email ID Special.NEFT@bankofindia.co.in or on telephone No. 022-22886680 for immediate resolution.

Chairman & Managing Director's Message & Address

Bank has decided to decrease the Bank’s Base Rate from 10.75% p.a. to 10.50%p.a. and BPLR from 15.00% p.a. to 14.75% p.a. with effect from 01.05.2012

The Managing Committee of the Indian Banks’ Association has appointed Shri Alok K Misra , Chairman and Managing Director, BANK OF INDIA as Deputy Chairman of the Association

Pension Calculator is available on Knowledge Portal front page

Press release launching of Mobile Based Remittance, Urban Financial Inclusion and two factor Authentication

Notice for Debit and ATM cardholders

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