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Attach 2 Passport Size PRIORITY SECTOR LENDING APPLICATION FORM (for Partnerships / incorporated Company) Please attach the following prerequisite documents: 1. CIA record: For partnership: partners

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How to fill out priority sector lending application

01

Collect all the necessary documents and information required for the application, such as financial statements, project details, collateral details, etc.

02

Download and print the priority sector lending application form from the respective bank's website, or obtain it directly from the bank's branch.

03

Fill out the application form accurately and completely, providing all the required information.

04

Attach all the supporting documents mentioned in the application form, ensuring they are properly arranged and organized.

05

Double-check the filled application form and attached documents for any errors or missing information.

06

Visit the nearest branch of the bank and submit the completed application form along with the supporting documents.

07

Pay any applicable fees or charges related to the application.

08

Obtain an acknowledgment receipt or confirmation from the bank, which serves as proof of application submission.

09

Wait for the bank's review and evaluation of the application, which may include a site visit or further verification.

10

Keep track of the application status and follow up with the bank if necessary.

Who needs priority sector lending application?

01

Individuals or entities who are seeking financial assistance for their projects or businesses in the priority sectors, such as agriculture, micro, small and medium enterprises (MSMEs), education, housing, renewable energy, etc., may need to fill out a priority sector lending application.

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What is priority sector lending application?

Priority sector lending application is a formal request submitted by banks and financial institutions to provide loans to specific sectors which the government considers important for the economic development of the country, such as agriculture, small industries, and education.

Who is required to file priority sector lending application?

Banks and financial institutions that are required to meet priority sector lending targets established by the central bank are mandated to file the priority sector lending application.

How to fill out priority sector lending application?

To fill out the priority sector lending application, applicants must provide detailed information regarding the proposed loan, including the amount, purpose, borrower details, and compliance with the priority sector guidelines set by the regulatory authority.

What is the purpose of priority sector lending application?

The purpose of the priority sector lending application is to facilitate and promote lending to critical sectors of the economy that require financial support to foster growth and development.

What information must be reported on priority sector lending application?

The priority sector lending application must report information including the loan amount, sector classification, borrower details, project description, and compliance with regulations regarding priority sector eligibility.

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