The Canara Bank Form NF 902 is a mandatory monthly stock statement required from borrowers who maintain an Open Cash Credit (OCC) account. While the official form is often distributed in PDF format, many businesses prefer an Excel format to automate calculations for Drawing Power (DP), which determines the actual amount they can withdraw from their sanctioned credit limit. Understanding Form NF 902
Valuation: Requires the weight/quantity, rate per unit, and total value (usually calculated at market rate or cost price, whichever is lower). canara bank stock statement form nf 902 excel format
Godown Details: Borrowers must specify the location/address where the stock is stored. Part B: Production and Sales Statement The Canara Bank Form NF 902 is a
Once you have downloaded the form, you can fill it out in Excel format. Here's a step-by-step guide: Visit the official Canara Bank website → "Downloads"
Calculate Drawing Power (DP): Banks typically offer credit after deducting a "margin" (e.g., 25%) from the total stock value.
Frequency: Usually submitted by the 7th or 10th of every month for the previous month's end.