Failure to submit can result in the bank reducing your drawing power to zero or charging penal interest on your CC account.
It helps the bank monitor the and ensure the stock coverage is adequate against the sanctioned limit.
Filing an incorrect stock statement can result in your account being flagged, penal interest being charged, or a sudden freezing of your credit limit.
If you are currently preparing your financial documents, let me know if you need help writing the specific for the Drawing Power calculation, or if you need to know what specific insurance clauses Canara Bank requires on your stock policy. AI responses may include mistakes. Learn more Share public link
Total Computed DP=Stock DP Allocation+Debtors DP AllocationTotal Computed DP equals Stock DP Allocation plus Debtors DP Allocation canara bank stock statement form nf 902 excel format
Need a customized NF 902 Excel template with formulas and automated drawing power calculation? Let us know in the comments below!
Sites like Scribd or DocHub offer fillable versions, though always verify against the bank's current template. Crucial Tips for Submission
Gone are the days of filling out forms by hand. Using the offers several advantages:
Typically 30% to 40% (meaning the bank finances 60% to 70% of your eligible book debts). Failure to submit can result in the bank
What is your bank-sanctioned and Debtors Margin ?
Submitting a clean, structured Excel printout builds credibility with your Canara Bank Credit Manager and facilitates faster processing. Key Components of Form NF 902
You must declare your (the amount you owe to suppliers).
Monthly data updates are faster, allowing you to copy-paste data from previous months. Accuracy: Reduces manual calculation errors. If you are currently preparing your financial documents,
Total Value of Stock−Sundry Creditors for Goods=Net StockTotal Value of Stock minus Sundry Creditors for Goods equals Net Stock Excel Formula: =B10-B11 :
✅ Submit NF 902 every month within 7 days of month-end. ✅ Stock value should be , whichever is lower. ✅ Do not include obsolete / slow-moving stock in pledged stock. ✅ Always keep a signed copy (physical or digitally signed) for bank audit. ✅ If drawing power reduces due to stock shortage, repay excess immediately to avoid penal interest.
: Evaluated strictly at raw material cost plus verified manufacturing expenses accumulated up to the reporting date.
Opening stock volume and value from the previous report period.
: You only need to update the quantities, rates, and debtor balances each month.
: A formal statement confirming the goods are the borrower's property, are fully insured, and are valued accurately. 📊 Excel Format Structure