MSME

United bank of India serves the MSME (hitherto SSI Customers) Customers with care sensitivity and passion since it started the lending Activity. (Click to get in touch with our nearest MSME Care centers ) The Bank has financed over 2 lac MSME units in the country. Bank has 57 specialized MSME branches however all the 1600 plus branches of the Bank are authorized to sanction MSME Loans as per their dispensation.

The Bank finances for Micro and Small enterprises which are of significance to the masses as many of these activities can be started with relatively lower investment and with not much special skills on the part of the entrepreneurs. They are contributing immensely to the GDP of not only the Eastern/North Eastern Sector but also the entire Country. Any MSME Customer can contact us in our MSME Toll free help line No.18003453344).

Definition of MSME-

As per the definition of MSMED Act 2006 Enterprises are categorized as per activities and Investment in Plant & Machinery or cost of equipment-

Limit on Investment/cost of Equipment will decide whether it is Micro, Small or Medium

Loans granted to the following units are eligible for classification under Micro & Small Enterprises Sector within Priority Sector provided investment in equipment (original cost excluding land & building and furniture, fittings and other items not directly related to the service rendered or as may be notified under the MSMED Act, 2006) does not exceed Rs.10 lakh and Rs.2 crore for Micro (Service) Enterprises and Small (Service) Enterprises respectively.

- Enterprises like small road & water transport operators, small business, professional & self-employed persons, and all other service enterprises engaged in activities viz., consultancy services including management services, composite broker services in risk and insurance management, Third Party Administration(TPA) services for medical insurance claims of policy holders, seed grading services, training-cum-incubator centre, educational institutes, training institutes, retail trades, practice of law i.e legal services, trading in medical instruments (brand new),placement and management consultancy services, advertising agency and training centres, etc.

• Retail traders dealing in essential commodities (Fair Price Shops) and Consumer Co-operative Stores are, without any ceiling in credit limit. Private retail traders only up to a credit limit not exceeding Rs.20 lakh.
• Any borrowing entity which is engaged in export or otherwise.
• Loans granted by banks to Retail traders dealing in essential commodities (Fair Price Shops) and Consumer Co-operative Stores.
• All advances granted to units in the KVI sector, irrespective of their size of operations, location and amount of original investment in plant and machinery. Such advances will be eligible for consideration under the sub-target (60 per cent) of the small enterprises segment within the priority sector.