| H | I | J | K | L | |---|---|---|---|---| | | Closing Stock Value (₹) | Stock Pledged to Bank (₹) | Deficit (if any) | Remarks |
The statement must include a declaration that the stocks are the absolute property of the borrower and are fully insured. Important Deadlines and Compliance
The bank uses this data to calculate your . Your Drawing Power determines the actual amount of funds you can withdraw from your sanctioned loan limit at any given time. Key Components of Form NF 902
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: Formulas instantly calculate totals, deduct margins, and compute your precise Drawing Power.
The NF 902 Excel format is a practical, user-friendly template for stock statements that balances regulatory needs and operational usability. Its effectiveness depends on disciplined version control, appropriate protections and validations in the worksheet, and integration with upstream systems to reduce manual entry. For branches with moderate inventory volumes, it’s a solid choice; for high-volume operations, consider moving to an integrated inventory system with periodic NF 902 exports.
This is the core section, detailing the goods held as collateral. | H | I | J | K
Filing an incorrect NF 902 form can result in your account being flagged, penal interest charges, or a temporary freeze on your withdrawals. Keep these rules in mind:
: Use the MIN function to ensure the calculated DP does not exceed your actual sanctioned credit limit.
Regular submission of this form is crucial for maintaining your account. It provides the bank with financial transparency, ensures compliance with banking regulations, and allows for the periodic adjustment of your credit limits based on real-time inventory health. Key Components of Form NF 902 This public
: Information regarding active insurance policies covering the stock against fire, theft, and other risks. Why Use an Excel Format for Form NF 902?
Net Drawing Power = (Total Value - Exclusions) * (1 - Bank Margin %) .
under the "Downloads" section. Many third-party financial platforms also offer fillable Excel templates that mirror the official structure for easier digital submission. step-by-step guide
Use a formula to deduct the bank's margin (e.g., Total Net Stock * 0.75 ) to find your permissible drawing limit.