CGTMSE / ( 44 ) /4396                                                        September 18, 2012

 

All Member Lending Institutions of CGTMSE

(Kind Attn. : Head, SME/Priority Sector)

 

CGTMSE Circular No.62 / 2012-13

 

Dear Sir / Madam,

Payments through RTGS / NEFT

 

               

As you are aware, the claims received from various designated controlling offices (member IDs) of MLIs are settled periodically by CGTMSE and the proceeds are passed on to the respective offices through cheque payments.  With a view to further streamline the payment process, for ensuring faster transfer of funds and better safety, it is proposed to make all claims/refund payments through RTGS/NEFT system w.e.f. October 15, 2012.

                While it would be desirable to have single designated account for each Member Lending Institution for routing all transactions of credit guarantee payments/receipts, to begin with, it has been decided to collect mandate forms, as per Annexure I, in respect of each member ID. A list of member IDs in respect of your bank/institution is enclosed for your ready reference. You are requested to collect said mandate forms, duly filled in and signed by the authorized official with name & seal (not below the rank of Asstt. General Manager) from each one of the above said member IDs and pass on the same to us for necessary action at our end. Since the system of claim payments through RTGS/NEFT is proposed to be introduced w.e.f October 15, 2012, please ensure that duly filled in mandate forms reach us latest by September 30, 2012. Please note that CGTMSE shall settle the claims in respect of only those member IDs, whose mandate forms are received before October 15, 2012.

                Please bring the contents of this circular to the notice of all controlling offices of your Bank dealing with CGTMSE. Should you desire any clarification/additional information, please feel free to get in touch with us.

                                                                                                                                                                                      Yours faithfully,

                                                Sd/-

             [ S.S.Bakshee ]

 General Manager