Purpose
The scheme envisages financing commodity stock held in accredited ware houses against forward sale contracts entered into by customers on the platform of approved futures exchanges namely (NCDEX, MCX and NMCE).
Type of Finance
The nature of the finance is reckoned as receivable discounting coupled with ODCC to fund exchange margin calls occurring on a daily basis depending on the price movements.
Period of Loan
Maximum 180 days from the date of contract entered with any of the approved futures exchange.
Rates & Interest
Please refer rates & charges page
Quantum of Loan
85 % of the value of contract plus initial margin plus/minus mark to market margin if any collected /paid by the exchange.
Repayment
Self-liquidating on receipt of payment from commodity exchanges on settlement of the contract.