Union Bank Of India Statement Of Stock Position Form Download |top|

Union Bank of India: Statement of Stock Position Form – Download and Guide

For business owners, traders, and industries dealing with inventory, maintaining a clear record of stock is crucial for both operational efficiency and banking compliance. If you are a borrower or a credit account holder with Union Bank of India, you may be required to submit a "Statement of Stock Position" periodically.

This article provides a detailed guide on what this form is, why it is needed, and how you can download it. Union Bank of India: Statement of Stock Position

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How to Fill and Submit the Form

1. Physical Verification: Conduct a physical count of your inventory on the closing date (usually the last day of the month).
2. Valuation: Calculate the value of the stock at cost or market price, as per the terms of your credit agreement.
3. Completion: Fill out the downloaded form accurately. Ensure that the figures match your internal accounting records.
4. Signatories: The form must be signed by the authorized signatories of the firm/company.
5. Submission: Submit the hard copy to the branch manager or the loan officer. Some branches may allow you to email a scanned copy, followed by the hard copy, but you must verify this with your specific branch.

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2. Internet Banking Portal

• Log in to Union Bank’s Internet Banking for business/corporate accounts.
• There is often a Forms Download or Service Requests section where you can find loan-related forms, including stock statements.

1. Official Union Bank of India Website (Most Likely Source)

• Go to the official Union Bank of India website: www.unionbankofindia.co.in
• Navigate to Downloads → Forms & Applications (or a similar section).
• Look under categories such as:
  • Loan Forms
  • Stock Statement
  • Commercial / Business Banking
• The form may be named: "Stock Statement Format", "Stock Position Statement", or "Form for Reporting Stock Statements" (often required for Cash Credit / Overdraft facilities).

Important Rules for UBI Stock Statements

• Timing: Submit it within 21 days from the end of the month (or as per your sanction terms).
• Penalty: Delayed submission can lead to penal interest or freezing of the Drawing Power (DP).
• Audit: For loans above a certain limit (e.g., ₹5 Crores+), the bank may demand a certified stock audit.

Why is this Form Required?

If you have a Cash Credit (CC) account or a Working Capital limit with Union Bank of India, you are contractually obligated to submit this form regularly (usually monthly or quarterly). How to Fill and Submit the Form

Here is why the bank requires it:

1. Monitoring Drawing Power (DP): The bank calculates your Drawing Power based on the value of your stock and receivables. This determines how much money you can withdraw from your account on any given day.
2. Compliance: It is a regulatory requirement to ensure that the security for the loan exists physically.
3. Stock Audit: It helps the bank identify if there is a discrepancy between the books and the physical stock.

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