Gone are the days of filling out forms by hand. Using the offers several advantages:
: Detailed listing of raw materials, stock-in-process, finished goods, and consumable spares.
The total stock declared in Form NF 902 must never exceed the total value insured under your active fire and burglary insurance policies filed with Canara Bank. canara bank stock statement form nf 902 excel format
Bold header with branch address, loan a/c number, and statement period. Row 7: Column headers – Sl No, Item Description, HSN Code, UOM, Qty, Rate, Value, Stock Type, Aging (Days), Remarks . Rows 8-25: Inventory data with alternating row colors for readability. Row 26: TOTAL : =SUM(Value_Range) . Row 28: Less: Obsolete/Stock > 90 days : manually entered or extracted via SUMIF . Row 29: Eligible Stock Value : formula. Row 30: Margin @ 25% : =Eligible*0.25 . Row 31: Drawing Power : =Eligible - Margin . Row 33-40: Declarations – "We hereby certify that the stock is insured...", signature line, date, place. Row 41: Prepared by and Checked by with date stamps.
If you cannot find an official version, you can build a compliant NF 902 Excel file using the structure described above. Use Excel’s SUM , SUMIF , and IF functions to automate totals and drawing power. Gone are the days of filling out forms by hand
Some common issues businesses face while using the NF 902 form include:
Based on recent search trends, there is a rising demand for digital tools to manage this process, with common queries being "stock statement format for canara bank cc account". Bold header with branch address, loan a/c number,
Note: If your calculated Drawing Power (₹1,05,000) is lower than your sanctioned limit (e.g., ₹2,00,000), you can only draw up to ₹1,05,000. If your DP is higher than your sanctioned limit, your withdrawals remain strictly capped at your sanctioned limit. Important Rules and Common Mistakes to Avoid
: Information regarding active insurance policies covering the stock against fire, theft, and other risks. Why Use an Excel Format for Form NF 902?
Stock DP Allocation=Net Eligible Stock×(100%−Stock Margin %)Stock DP Allocation equals Net Eligible Stock cross open paren 100 % minus Stock Margin % close paren