Loans and Advances Local Bills Discounting [LBD]
  •           The facility is granted to traders
  •           It is a financing against account receivables
  •           Funds are released against post dated cheques issued by buyers of goods
  •           The maturity period is 90 days or maximum 120 days in exceptional cases
  •           Rate of Interest as per Facility Agreement. 
Documents Required
 
  •           LBD application duly filled-in. (Please contact your nearest BMI branch for the necessary forms and more information)
  •           Agreement for Bills Discounting facility
  •           Third party Guarantee