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Union Bank Of India Statement Of Stock Position Form ((full)) Download Direct

Here’s a step-by-step guide to download the Statement of Stock Position form for Union Bank of India (UBI). This form is typically required for stock audits, credit limit renewals, or hypothecation stock statements.

Digital Submission vs. Physical Submission

Post-COVID and with the digitization of Union Bank, you have two options for submission: Here’s a step-by-step guide to download the Statement

  • Physical Submission: Print the downloaded form, fill it in blue ink, sign it, and submit it to the branch manager or the designated relationship officer. Always obtain a received stamp on an acknowledgement copy.
  • Digital Submission (Recommended): Log in to UBIConnect (Corporate Internet Banking). Navigate to Services > Compliance > Upload Stock Statement. You can upload the scanned copy of the signed PDF. This method provides an automatic timestamp and receipt.

Why does Union Bank of India require this form?

  1. Security Assessment: The stock pledged by the borrower acts as security against the loan. The bank needs to know the value of this security.
  2. Drawing Power Calculation: Based on the stock value (and outstanding receivables), the bank calculates how much money the borrower is eligible to withdraw from their account.
  3. Compliance: It ensures that the funds are being utilized for the intended business purposes and that the stock turnover is healthy.

Information Required in the Form

When filling out the Statement of Stock Position, you will generally need to provide the following details: Digital Submission vs

  • Borrower Details: Name of the firm/company and the Account Number.
  • Statement Date: The date on which the stock was physically verified.
  • Stock Classification: A breakup of raw materials, work-in-progress, and finished goods.
  • Stock Value: The cost price or market value of the stock (whichever is lower).
  • Insurance Details: Policy number and validity of the insurance covering the stock.
  • Book Debts: Details of outstanding receivables (if applicable).
  • Previous Stock: A comparison with the previous month’s stock for trend analysis.

Method 2: Direct Google Search with Site Filter

Use this exact search query in Google:

site:unionbankofindia.co.in "stock statement" form filetype:pdf

This will directly list any PDF forms hosted on UBI’s official domain. Physical Submission: Print the downloaded form, fill it

What is a Statement of Stock Position?

A Statement of Stock Position is a periodic report submitted by a borrower to the bank. It provides a snapshot of the inventory (stock) held by the business at a specific point in time.

For banks, this document is crucial because the stock serves as primary security against the loan limit (security interest). The form typically requires details such as:

  • Description of goods/raw materials.
  • Quantity held.
  • Value of the stock (at cost or market value, whichever is lower).
  • Details of insurance coverage.
  • Details of book debts (receivables).