The NF1003 form is a specialized financial document required by Canara Bank to monitor the security against which loans are provided. The bank lends money based on the value of the stock (raw materials, work-in-progress, finished goods) and receivables (book debts) a business holds. This form serves to verify: The actual stock position at the end of the month. The aging of receivables (debtors). The security coverage ratio (margin maintained).
Raw Materials, Work in Progress, Finished Goods. Debtors Statement: Total outstanding debtors.
Finding similar forms like the for limits above ₹10 lakhs. AI responses may include mistakes. Learn more NF 1003 Simplified Stock Statement | PDF - Scribd
: Name of the borrower, loan account number, and branch name. Inventory Breakdown : The NF1003 form is a specialized financial document
: Sign and date the form to certify that the stock is your absolute property and the values are correct. Key Submission Requirements
Note: Banks generally exclude debts older than 90–180 days from the drawing power calculation. 5. Declaration and Signatures
: Ready-to-sell inventory valued at cost or market price, whichever is lower. The aging of receivables (debtors)
You must list the money owed to your business by buyers. The bank typically filters these by age:
When a business avails of an asset-backed loan or working capital facility, the bank calculates a limit based on the value of the paid stock and trade debtors. Form NF1003 acts as the formal declaration of these current assets, allowing the bank to monitor its collateral health and renew or maintain your credit lines. Key Components of Form NF1003
Failing to submit your stock statement on time can severely disrupt your business operations. Canara Bank requires this form for several reasons: Debtors Statement: Total outstanding debtors
Note: This is a representative format for illustration purposes.
Do you need assistance calculating or Drawing Power based on your current figures?
Enter your exact business entity name, account number, the name of the Canara Bank branch, and the specific statement date (usually the last working day of the month).