The Canara Bank Stock Statement Form NF 902 in Excel format is more than a compliance document – it is a tool for financial discipline. By creating a robust, formula-driven Excel template, you not only please your bank manager but also gain real-time insight into your inventory turnover, slow-moving stock, and actual drawing power.
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Remember: In the world of inventory finance, accuracy is king. A correct stock statement means uninterrupted credit flow. An incorrect one can bring your business to a halt. Master the NF 902 Excel format, and you master your business liquidity with Canara Bank.
Disclaimer: This article is for informational purposes only. Banking norms and formats change over time. Always refer to the latest directive from your Canara Bank branch or the official Canara Bank website (canarabank.com) for the most current requirements.
Canara Bank NF 902 form is the standard "OCC Stock Statement cum MSOD" (Monthly Selection of Operational Data) used by borrowers to declare inventory and calculate drawing limits for cash credit accounts. Where to Download
While the bank primarily provides this in PDF format, you can find editable versions through several channels: Official Website : Navigate to the section on the Canara Bank homepage to find NF 902 - Stock Statement Excel/XLS Formats : Third-party document repositories like often host community-uploaded versions for easier data entry. Online Editors : Platforms like
allow you to fill, sign, and export the form electronically. Core Components of Form NF 902
The form is divided into two primary sections to provide a complete financial snapshot of your inventory: Part A: Stock Statement & Drawing Limit Commodity Details
: Table for raw materials, stock-in-process, and finished goods, including quantity, unit rate, and total value. Excluded Categories
: Section to deduct stocks purchased on credit, goods hypothecated to other banks, or slow-moving items from the total value. Drawing Limit Calculation canara bank stock statement form nf 902 excel format
: Formula to apply the bank’s sanctioned margin (e.g., 25%) to the net stock value to arrive at the current drawing limit. Part B: Production and Sales Statement Monthly Performance
: Data on actual production and sales achieved during the month. Receivables & Creditors
: Details of outstanding book debts and sundry creditors to help the bank assess liquidity. Submission Requirements
: Typically submitted monthly (usually by the 7th or 10th of the following month) to keep the drawing limit active. Verification
: Must be signed by authorized personnel; for larger limits, a Chartered Accountant certificate may be required for book debt verification.
: The form requires confirmation that the declared stock is fully insured against fire and other risks. specific local Canara Bank branch contact to confirm their preferred submission method?
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Canara Bank NF 902 Stock Statement Form | PDF | Money - Scribd
The Canara Bank Form NF 902 is a mandatory monthly stock statement required from borrowers who maintain an Open Cash Credit (OCC) account. While the official form is often distributed in PDF format, many businesses prefer an Excel format to automate calculations for Drawing Power (DP), which determines the actual amount they can withdraw from their sanctioned credit limit. Understanding Form NF 902 The Canara Bank Stock Statement Form NF 902
The NF 902, officially titled the OCC Stock Statement cum MSOD (Monthly Statement of Operations and Data), serves as a report on the quantity and value of inventory held by a business. This statement is used by the bank to:
Calculate Drawing Power (DP): Banks typically offer credit after deducting a "margin" (e.g., 25%) from the total stock value.
Assess Financial Health: Monitoring inventory levels helps the bank evaluate the operational stability of the borrowing entity.
Ensure Compliance: It verifies that the goods serving as collateral are adequately insured and held in approved locations. Key Components of the Stock Statement
A complete NF 902 statement generally includes two main sections: Part A: Detailed Stock Position:
Commodity Description: Clear identification of items (raw materials, work-in-progress, finished goods).
Quantity Tracking: Opening stock, items received, items sold/dispatched, and final closing stock units.
Valuation: Unit rate and total value of each item as of the statement date.
Storage Location: Details of the godown or warehouse where the goods are stored. Part B: Declarations and Financial Data: Remember: In the world of inventory finance, accuracy
Production & Sales Statement: Summary of monthly production and sales figures.
Insurance Details: Confirmation that the stock is insured against risks like fire and theft.
Aging Report: Specific reporting for goods older than six months or those nearing expiration (especially for pharmaceuticals/chemicals). How to Prepare Form NF 902 in Excel
To create an efficient Excel template for your monthly submissions, follow these structural steps: Stock Statements to Bank - Dhruva Industrial Consultants
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.
| Sl. No. | Description of Goods | Unit | Quantity | Rate per Unit (₹) | Value (₹) | Particulars of Stock (Own/Consignment/Joint) | Location / Godown | Remarks | |---------|----------------------|------|----------|-------------------|-----------|-----------------------------------------------|-------------------|---------|
Create an "Age in Days" column. Use a formula if you have receipt dates:
=IF(TODAY() - Receipt_Date > 90, "Slow/Non-moving", "Fast Moving")
Most banks will exclude or heavily discount stock older than 90–180 days from drawing power.
Form NF 902 is the standardized register used to track the stock and book debts of borrowers. It essentially acts as a ledger where the borrower declares the value of their inventory (stocks) and outstanding payments due from customers (receivables) for a specific period.
Banks use this form to:
You can download a ready-to-use Excel template from our resource section. (On your actual site, insert a download link button here. For reference, users can search "NF 902 Excel Format RBI Guidelines" or request from branch.)
Follow this process to ensure your stock statement is accepted on the first submission.