CGTMSE.Ref. No. 44/GF/ 5932                                            September 23, 2014

All Member Lending Institutions (MLIs)

Attention : MSME/Priority Sector Head of MLIs

Circular No. 84 /2014-15

Dear Sir,

Remittance of Guarantee Fee (GF) by MLIs

            In terms of CGTMSE Circular No. 74/2014-15 dated April 04, 2014, we had modified the existing practice of receipt / remittance of Guarantee Fee by Demand Drafts (DDs) and advised MLIs to remit the same through RTGS / NEFT effective April 21, 2014.  The procedure for advising / indicating the Receipt /Payment (RP) No. (CGTMSE system generated) and UTR No. (Generated after remittance of proceeds through RTGS) was to be followed by MLIs; to enable timely and smooth appropriation of guarantee fee by the Trust for commencement of Guarantee Cover against the respective borrower account.

            It is, however, observed that although considerable time has lapsed since the modified practice of remittance of GF by RTGS/ NEFT has been advised; many of the Operating Offices of MLIs do not provide /update in time the RP No. / UTR No. in respect of the RTGS / NEFT payments in the CGTMSE portal, thereby defeating the very purpose for introduction of modified practice of electronic payment of fees by the Trust. As a result substantial numbers / amount of such transactions lies unidentified / unreconciled.

            In view of the above it has been decided to discontinue the procedure of acceptance of Guarantee Fee by RTGS / NEFT from the Operating Offices of MLIs effective October 01, 2014 and collect the same by way of Demand Drafts / Pay Orders, as was being done prior to April 21, 2014.

In respect of the guarantee fee(s) already remitted / to be remitted by RTGS / NEFT from April 21, 2014 till September 30, 2014, the Operating Offices of MLIs are requested to please provide by October 20, 2014 the information /details, as indicated in the Annexure, by way of email in a separately created email Id - epayment@cgtmse.in.

The MLIs may please use the above email Id only for advising the RTGS/ NEFT payment details of Guarantee Fee made between April 21 - September 30, 2014.

 

The Existing procedure with regard to payment of Annual Fees i.e. Annual Service fee (ASF) and composite Annual Guarantee Fee remain unchanged.

The contents of the circular may please brought to the notice of all your offices.

Yours faithfully,

 

[S.N. Sadhwani]

Encl.: As above                                                                     Dy. General Manager

 

 


 

Annexure

Details of RTGS / NEFT remittance made

Name of MLI & MLI Id -

Nodal Officer (Name & Designation) -

Contact No. (With STD code) -

Period of Payment - From April 21, 2014 To September 30, 2014

(Amount in Rupees)

SN

Consolidated RTGS/NEFT remitted

CGDAN No.

GF Remitted (@)

Receipt Payment (RP) No.

UTR No.

Transaction

 Id

Amount (@)

Date

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

@ Inclusive of service tax and cess.

 

Note - Please send the above details on the email Id - epayment@cgtmse.in.