Working Captital Financing
PNB offers working capital finance to meet short term fund requirement for managing the day to day operation of the business. PNB’s working capital finance extended to meet the different demands from all segments of industry, trade and the services sector. Assistance extended by both as Fund based and Non Fund Based facilities to Corporates, Partnership Firms, Proprietary Concerns etc. Funded facilities include cash credit, demand loan and bill discounting. Non-funded instruments comprise letters of credit (inland and overseas) as well as bank guarantees (performance and financial) to cover advance payments, bid bonds etc.
“We bring to your kind notice the following with respect to Bank Guarantee:”
Non-Fund Based Limits
We bring to your kind notice the following with respect to Bank Guarantee:
1. Beneficiaries of BGs should get the BG confirmed from respective controlling offices and get the guarantees issued through SFMS (Structured Financial Messaging System) only.
2. Bank Guarantees are transmitted through IFN 760/ 760 COV & amendments thereof are transmitted through IFN 767 COV of SFMS, being the only valid modes of transmission. We therefore request you to please ensure before accepting bank guarantees/amendments that these are transmitted through IFN 760/ 760 COV or IFN 767 COV, as the case may be.
3. IBA has advised that a separate advice of the BG be sent by the issuing bank to the advising bank through SFMS only after which the paper BG would become operative.