The Cash Credit Renewal Request Letter is a crucial document in Indian banking operations, typically required annually or as per the bank's stipulated tenure. This document is used when an existing cash credit facility is approaching its renewal date and the borrower wishes to continue the credit arrangement. It forms part of the working capital financing documentation required under Indian banking regulations and RBI guidelines. The letter should comprehensively address the facility's current status, the borrower's compliance with existing terms, financial performance, and justification for renewal. It must be accompanied by various supporting documents such as financial statements, stock statements, and compliance certificates. The document is particularly important as cash credit facilities are one of the primary forms of working capital financing in India, and their renewal is subject to the bank's assessment of the borrower's performance and creditworthiness.
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1. Bank's Address and Date: Complete address of the bank branch where the cash credit facility is maintained, including the date of the letter
2. Subject Line: Clear reference to 'Request for Renewal of Cash Credit Facility' with the existing account/facility number
3. Salutation: Appropriate greeting to the Branch Manager/Credit Officer
4. Reference Details: Details of existing cash credit facility including sanctioned amount, account number, and original sanction date
5. Current Facility Status: Overview of current utilization, compliance with terms, and timely interest payments
6. Renewal Request: Formal request for renewal with specific period mentioned
7. Business Performance: Brief summary of business performance during the last facility period
8. Compliance Statement: Declaration of compliance with existing terms and conditions
9. Closing and Signature: Standard closing, signature of authorized signatory, and company details
1. Enhancement Request: Include when requesting an increase in credit limit along with renewal
2. Change in Security Structure: Include when proposing modifications to existing security arrangements
3. Special Business Circumstances: Include when there are specific market conditions or business situations affecting facility utilization
4. Modified Terms Request: Include when requesting changes to existing facility terms
5. Group Company Details: Include when the borrower is part of a larger group with multiple banking relationships
1. Financial Statements: Latest audited financial statements and provisional financials
2. Stock Statements: Recent stock and book debt statements for the last quarter
3. GST Returns: Copies of recent GST returns
4. Bank Statements: Last 6 months' bank statements of main account
5. KYC Documents: Updated KYC documents if any changes since last renewal
6. Security Details: List of existing securities and their current valuation
7. Projected Financials: Financial projections for the next year
8. Compliance Certificates: Various compliance certificates as required by the original sanction terms
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