CGTMSE / (44) / 2782                                                                      July 30, 2010    

 

All Member Lending Institutions of CGTMSE

 

 

Circular No.60 / 2010 - 11

 

Dear Sir,

Credit Guarantee Scheme (CGS) - procedure for

Invocation of guarantee and preferment of claim

 

 

Please refer to our Circular No.57 / 2009 - 10 dated November 05, 2009 wherein, inter-alia, Member Lending Institutions (MLIs) were advised to indicate the date of classification of the account as NPA in a particular quarter by the end of the subsequent quarter. MLIs were allowed time upto June 30, 2010 for updating the information in the system. It is observed that some of the MLIs have not updated the details in the system. In view of representations received from several MLIs for extension of time for updation of NPA details in respect of the accounts which have not yet been marked as NPA in the system, it has been decided to allow time upto September 30, 2010 for updation of the NPA details in the system by using the following option:

 

(Member Login area à Guarantee Maintenance à Periodic Information à NPA Details)

 

MLIs are requested to ensure compliance of the above guidelines as no further extension is proposed to be granted to update the NPA details in the system.

 

 Please bring the contents of this letter to the notice of all the operating offices of your Bank / Institution.

 

Kindly acknowledge receipt.

Yours faithfully,

 

Sd/- 

 

                                                                                                    (P.M. Radhakrishnan)

 

                                                                          General Manager