The Canara Bank Form NF 902 is the standard "OCC Stock Statement cum MSOD" used by borrowers with Cash Credit facilities to report monthly inventory and sales. While the official form is often distributed as a PDF, it is frequently converted into Excel format to automate the calculation of Drawing Power (DP). Standard Report Structure (NF 902)
A complete stock statement report typically includes the following sections:
Header Details: Company name, account number, and the statement date (as of the last day of the month). Part A: Inventory Details:
Categories: Raw materials (imported/indigenous), stock-in-process, and finished goods.
Data Points: Description of commodity, quantity, unit rate, and total value.
Exclusions: Items to exclude from drawing power, such as slow-moving stock (older than 6 months), obsolete items, or stocks purchased on credit.
Part B: Production & Sales: Monthly breakdown of opening stock, stock "in," stock "out," and final closing stock.
Part C: Receivables & Creditors: Age-wise breakup of book debts (within/beyond 90 days) and sundry creditors.
Drawing Power (DP) Calculation: Total value of eligible stock minus the prescribed margin (e.g., 25%) to determine the net drawing limit. Downloading & Preparation
You can obtain the form or digital versions through these platforms:
Official Sources: Check the Downloads section on the Canara Bank Official Website for the most recent official NF 902 PDF. Editable Formats:
Scribd provides user-uploaded Excel (.xlsx) templates that include pre-built calculation formulas.
Platforms like US Legal Forms and DocHub offer fillable PDF versions that can be edited online or converted. canara bank stock statement form nf 902 excel format
Software Export: If you use accounting software like Tally, you can often generate a stock statement and export it directly to Excel using the Alt+P or Export function. Compliance Note Canara Bank Stock Statement NF-902 Form | PDF - Scribd
The Canara Bank Stock Statement Form NF 902 is a mandatory monthly reporting document for businesses utilizing Cash Credit (CC) or Overdraft (OD) facilities. Banks require this form to verify the value of the inventory (hypothecated stock) and determine your Drawing Power (DP)—the actual amount you can withdraw from your sanctioned credit limit at any given time. Key Components of Form NF 902
While often downloaded as a PDF, most businesses convert the structure into an Excel format to automate calculations. A standard NF 902 contains:
Header Details: Name of the unit, account number, and the specific date (e.g., "Stock as on 31/03/2024").
Part A: Inventory Statement: Detailed breakdown of Raw Materials, Work-in-Progress (WIP), and Finished Goods.
Excel Tip: Include columns for Opening Stock + Purchases - Sales = Closing Stock to ensure data consistency.
Part B: Production and Sales: A summary of the month's total production figures and gross sales compared to projected targets.
Excluded Categories: Stocks that cannot be used to calculate DP, such as obsolete items, goods older than six months, or items purchased on credit (Sundry Creditors).
Drawing Power Calculation: The final section where the bank's margin (typically 25%) is deducted from the net stock value to arrive at the DP. How to Prepare the Statement in Excel
Download the Template: You can find sample versions on platforms like Scribd or the Canara Bank Official Site under the "Downloads" or "Forms" section.
Input Physical Stock: Enter quantities and values for each item. Ensure the valuation is based on "Cost or Market Price, whichever is lower".
Deduct Creditors: In Excel, subtract the value of unpaid stocks (Sundry Creditors) from your total stock value. Banks only provide finance on "paid-for" inventory. The Canara Bank Form NF 902 is the
Apply Margin: Use a formula to deduct the bank's margin (e.g., Total Net Stock * 0.75) to find your permissible drawing limit.
Certification: The statement must include a declaration that the stocks are the absolute property of the borrower and are fully insured. Important Deadlines and Compliance
Frequency: Usually submitted by the 7th or 10th of every month for the previous month's end.
Insurance: Ensure your stock insurance policy is current and the "Bank Clause" is noted in the policy documents.
Consequences: Delayed submission can lead to "penal interest" or the account being flagged as "irregular," which might freeze your ability to withdraw funds. Canara Bank OCC Stock Statement NF 902 | PDF - Scribd
I’m unable to generate or provide an actual Excel file (.xlsx or .xls) directly. However, I can give you the exact column structure of Canara Bank Form NF 902 (Stock Statement format) so you can easily recreate it in Excel yourself.
The NF 902 Excel format is a practical, user-friendly template for stock statements that balances regulatory needs and operational usability. Its effectiveness depends on disciplined version control, appropriate protections and validations in the worksheet, and integration with upstream systems to reduce manual entry. For branches with moderate inventory volumes, it’s a solid choice; for high-volume operations, consider moving to an integrated inventory system with periodic NF 902 exports.
Related search suggestions: Canara Bank NF 902 template, stock statement format Excel, bank inventory reconciliation template.
The Canara Bank Form NF 902, also known as the OCC Stock Statement Cum MSOD, is a mandatory monthly or quarterly document for borrowers holding an Open Cash Credit (OCC) account. It details the borrower's inventory and sales to help the bank calculate the current Drawing Limit based on the value of hypothecated goods. Key Sections of Form NF 902
The form is typically divided into two main parts to capture both inventory value and operational performance: Part A: Stock Statement (Inventory Details)
Commodity List: Includes columns for commodity description, opening stock, units added ("in"), units removed ("out"), and final closing stock.
Valuation: Requires the weight/quantity, rate per unit, and total value (usually calculated at market rate or cost price, whichever is lower). Practical recommendations
Godown Details: Borrowers must specify the location/address where the stock is stored. Part B: Production and Sales Statement
Operational Figures: Requires data on gross/net sales and actual production during the period compared to estimates.
Receivables & Creditors: Includes an age analysis of book debts (receivables) and details of sundry creditors for purchases. Calculations & Declarations
Drawing Limit Calculation: A summary that subtracts margins (e.g., 20-25%) and excluded categories (like stocks purchased on credit) from the total value to determine the bank's maximum allowable credit.
Declaration: A signed statement confirming the goods are the borrower's property, are fully insured, and are held in trust for the bank. How to Prepare the Statement in Excel
While the official form is often provided as a PDF, many businesses use Excel for automated calculations. A standard Excel template should include the following headers:
Item Description: Raw materials, semi-finished, or finished goods.
Opening Balance: Stock quantity and value at the start of the month.
Receipts/Purchases: Quantity and value added during the month. Sales/Issues: Quantity and value reduced during the month.
Closing Stock: Final figures used for the drawing power calculation.
Formula-based Margin: Automatically deduct the bank-mandated margin (e.g., Total Value * 0.75 for a 25% margin). Submission & Resources NF 902 Stock Statement | PDF | Money - Scribd
Form NF 902 is a statutory statement required by Canara Bank from borrowers availing Working Capital Limits (like Cash Credit or Overdraft). It serves two primary purposes:
If you cannot find a downloadable NF 902 form, you can build one in Excel using this guide:
=D2*E2 to calculate total value.=MIN(BookValue, MarketValue). Banks lend against the lower value to protect against depreciation.=SUM() at the bottom of the value columns.