: Mention the current insurance cover amount and its expiry date. 📲 Other Digital Statement Options
The Statement of Stock Position is a formal declaration by a business owner regarding the current value of their assets. Union Bank uses this form to ensure that the loan amount disbursed remains well-covered by the physical goods and book debts held by the business. Why You Need to Submit This Form : Mention the current insurance cover amount and
: A dedicated Stock Statement for Cash Credit detailing calculations for net value and drawing limits. Why You Need to Submit This Form :
of the following month. Late filing can lead to penal interest or a freeze on your drawing power. Valuation Rule : Always use the "Lower of Cost or Market Value" principle for valuation unless instructed otherwise. Drawing Power Calculation Valuation Rule : Always use the "Lower of
The form generally requires certification by a Chartered Accountant (CA) or the borrower’s signature, depending on the loan limit.