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Monday, 21-May-2012

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Credit Linked Subsidy

Credit Linked Capital Subsidy Scheme (CLCSS) for Manufacturing Units

The objective of the scheme is to facilitate technology upgradation of Micro and Small Manufacturing units in the specified products / sub-sectors as indicated below by providing 15% capital subsidy for induction of proven technologies approved under the scheme, viz., leather and leather products including footwear and garments; food processing( including Ice-cream manufacturing);Information and Technology (Hardware);drugs and pharmaceuticals; auto parts and components; electronic industry particularly relating to design and measuring; glass and ceramic items including tiles; dyes and intermediaries; toys; tyres; hand tools; bicycle parts; foundries - ferrous and cast iron; and stone industry(including Marble Mining Industry).

Technology upgradation would ordinarily mean induction of state-of-art or near state-of-the-art technology. It would also include installation of improved environmental conditions, including work environment for the unit, installation of improved packaging techniques, anti-pollution measures and energy conservation machinery.

The ceiling on loans under the scheme is now Rs. 100 lakhs,

The admissible capital subsidy is to be calculated with reference to the purchase price of plant & machinery, irrespective of the amount of term loan disbursed to the beneficiary,

Credit Linked Capital Subsidy Scheme for Technology Upgradation of
Small Scale Textiles And Jute Industries (CLCS-TUFS)

The Scheme aims to encourage new/existing textile industrial units (including Cotton Ginning & Pressing Units) in the small scale sector for taking up technology up-gradation and to modernize their production facilities by providing subsidy under the Technology Up-gradation Fund Scheme.
Under the scheme, an option has been made available to the Small Scale Textile Industries to avail either one time 15% Credit Linked Capital subsidy or 5% interest reimbursement under the Technology Upgradation Fund Scheme. Units engaged in processing of textiles are eligible for further 10% Capital Subsidy over and above the 5% interest subsidy for specific textile processing machinery.

Medium and Large scale units are eligible for an interest subsidy of 5% on the loans sanctioned for upgrading technology through new machinery which are eligible under the scheme.

In respect of Power Loom Units in Small Scale Sector, the Credit Linked Capital Subsidy would be 20%.

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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