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P&S Bank Artisan Credit Card (ACC) Scheme


To provide adequate and timely assistance to artisans for their investments needs as well as working capital requirement. The scheme would be operative in rural and urban areas.


All artisans engaged in production/manufacturing process and otherwise eligible for credit facilities under any of the existing bank schemes would be eligible. Preference would be given to artisans registered with Development Commissioner (Handicrafts) and thrust in financing would be on clusters of artisans who have joined to form Self Help Groups (SHGs). Beneficiaries of other Govt. sponsored loan schemes will not be eligible for coverage under ACC scheme. All existing artisans borrowers of the Bank enjoying credit facilities upto Rs.2 lakh and having satisfactory dealings with the Bank will be eligible.

Quantum of finance

The credit limit would be fixed on assessment of working capital requirements as well as cost of tools and equipments needed for carrying out manufacturing activities. Working capital requirements would be assessed as per Nayak Committee recommendations. The maximum limit to be sanctioned under the scheme would be Rs.2 lakhs. The working capital limit would be as revolving cash credit to provide any number of drawals and repayments within the limit. However, a repayment schedule would be fixed for the portion of loan availed for the purchase of tools and equipments


For credit up to Rs.25000/- no margin is required but for credit above Rs. 25000/- a margin of 25% would be kept


Hypothecation of assets to be created with Bank finance.

Rate of interest


Validity/Renewal of limit

The credit card would be valid for 3 years subject to annual review but the borrower would not be required to submit any financial statement Request for enhancement of limit may be considered at the time of review within the ceiling of Rs.2 lakhs. No fees will be charged at the time of review/renewal of card.

Issuance of cards

The beneficiary would be issued a photo card indicating sanctioned limit and validity period of credit facility. He/She would also be issued cheque book specially marked "ACC Account".


As per existing guidelines.

Guarantee Cover

The guarantee cover would be available under the Credit Guarantee Scheme introduced by Credit Guarantee Fund Trust for Small Industries (CGTSI) i.e. in terms of P. S. Cir. No.267 dated 09-01-2003.


Artisan Credit Card (ACC) accounts would be maintained in a separate ledger and statement of account pass book to be issued to ACC card holders. Stock statements are not to be submitted by the beneficiaries but monitoring of the account operations be ensured through quarterly/half yearly inspection. Processing fee is to be charged as per existing guidelines. Cost of photo for issue of card to be borne by the Bank. Finance under the scheme to be reported under Priority Sector under the head SSI and all such accounts to be covered under Weaker Section.

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