CMA Data Format for Bank Loan 2026 (Word) — Form I to VI with MPBF

The full Credit Monitoring Arrangement set for a working-capital or term-loan proposal — Form I to Form VI as banks use them, with the MPBF working and a covering note from the CA that says plainly what was traced to audited accounts and what is management's estimate. Laid out for 2026-27 renewals and new proposals.

Free · CORAA original — SA-aligned

Updated 1 Oct 2026

Forms

Form I to Form VI — limits, operating statement, balance sheet, CA/CL, MPBF, funds flow

Columns

2 audited years, current-year estimates, next-year projections

MPBF

Lower of (gap − minimum NWC) and (gap − projected NWC)

CA's role

Preparer's covering note — no assurance on projections

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Your firm — letterhead

Appears at the top of the document as the audit firm letterhead.

Audit firm name

Audit firm address

Used as the letterhead block.

Engagement partner

ICAI membership no.

Firm registration no.(optional)

Engagement details

The client and period this document is for.

Borrower / entity name

PAN

Address

Facility applied for

Year 1 — audited (earlier year)

Year 2 — audited (last year)

Year 3 — current year estimates

Year 4 — following year projections

MPBF working — total current assets (₹)(optional)

For the year on which limits are assessed (normally the projection year). Item 9 of Form IV. Leave the MPBF fields blank to fill Form V by hand.

MPBF working — current liabilities other than bank borrowings (₹)(optional)

Item 14 of Form IV.

MPBF working — minimum stipulated net working capital (₹)(optional)

25% of the working capital gap (Method I) or 25% of total current assets excluding export receivables (Method II) — whichever method the bank applies. Enter the amount.

MPBF working — actual / projected net working capital (₹)(optional)

Item 45 of Form III.

Date of signing

Addressed to

Recipient of the letter — usually the company's board.

Bank / branch

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CMA Data Format for Bank Loan 2026

1 October 2026

CREDIT MONITORING ARRANGEMENT (CMA) DATA

Borrower: {{client_name}} (PAN: {{client_pan}})

Address: {{client_address}}

Submitted to: {{bank_name}}

Proposal: {{facility_description}}

Amounts in ₹ ____________ [lakh / crore — state the unit once and use it in every form]

Covering Note of the Chartered Accountant

To,

The Branch Manager, {{bank_name}}

1. At the request of {{client_name}} ("the borrower"), we have assisted its management in arranging its financial information in the Credit Monitoring Arrangement format (Form I to Form VI) enclosed, for submission to the Bank with the proposal described above.

2. Figures for {{cma_year_1}} and {{cma_year_2}} have been taken from the audited financial statements of the borrower for those years, audited by ____________ [name of the auditors — say "us" if the firm is the auditor], and regrouped where necessary to fit the CMA classification. The regrouping does not change the reported profit or net worth; reclassifications that affect the current ratio are listed in the notes at the end of Form III.

3. Figures for {{cma_year_3}} are estimates and figures for {{cma_year_4}} are projections. They have been prepared by the management of the borrower on the assumptions set out in the Statement of Assumptions enclosed, and they are the responsibility of the management. We have checked that they have been compiled arithmetically on the basis of those assumptions and carried into the forms consistently.

4. We have not audited or reviewed the estimates and projections, and we do not vouch for their accuracy or express any opinion or assurance on whether they will be achieved. Actual results are likely to differ from the estimates and projections, since anticipated events frequently do not occur as expected, and the variation may be material.

5. This note and the enclosed forms are intended solely for the use of the Bank in appraising the above proposal and are not to be used for any other purpose or by any other person without our prior written consent.

Drafting hint: if the Bank's sanction terms ask for an examination report on the projections, issue it separately under SAE 3400 and refer to it in paragraph 4 instead of the disclaimer. Do not write "certified true and correct" across projected columns.
Drafting hint: where the current year's figures are provisional actuals up to a cut-off date plus an estimate for the remaining months, say so in paragraph 3 and state the cut-off date.

Form I — Particulars of Existing / Proposed Limits from the Banking System

(Limits from all banks and financial institutions as on the date of application)

A. Working capital limits

Name of bank / institution	Nature of facility	Existing limit	Utilisation in last 12 months — maximum	Utilisation in last 12 months — minimum	Balance outstanding as on ________	Limit now requested
	Cash credit / overdraft
	Working capital demand loan
	Bills purchased / discounted
	Letter of credit (non-fund based)
	Bank guarantee (non-fund based)
Total

B. Term loans / deferred payment guarantees (excluding working capital term loans)

Name of bank / institution	Nature of facility	Amount sanctioned	Balance outstanding as on ________	Instalments due within one year	Overdues, if any	Limit now requested


Total

Form II — Operating Statement

Particulars	{{cma_year_1}} (Audited)	{{cma_year_2}} (Audited)	{{cma_year_3}} (Estimates)	{{cma_year_4}} (Projections)
1. Gross sales — (i) Domestic sales
(ii) Export sales
Total gross sales
2. Less: Duties and taxes included in gross sales, if any
3. Net sales (1 − 2)
4. Percentage rise (+) or fall (−) in net sales over the previous year
5. Cost of sales — (i) Raw materials consumed (including stores used in manufacture): (a) imported
(b) indigenous
(ii) Other spares: (a) imported
(b) indigenous
(iii) Power and fuel
(iv) Direct labour (factory wages and salaries)
(v) Other manufacturing expenses
(vi) Depreciation
(vii) Sub-total (i to vi)
(viii) Add: Opening stock-in-process
(ix) Deduct: Closing stock-in-process
(x) Cost of production
(xi) Add: Opening stock of finished goods
(xii) Deduct: Closing stock of finished goods
(xiii) Total cost of sales
6. Selling, general and administrative expenses
7. Sub-total (5 + 6)
8. Operating profit before interest (3 − 7)
9. Interest
10. Operating profit after interest (8 − 9)
11. (i) Add: Other non-operating income
(ii) Deduct: Other non-operating expenses
(iii) Net of other non-operating income / expenses
12. Profit before tax / loss [10 + 11(iii)]
13. Provision for taxes
14. Net profit / loss (12 − 13)
15. (a) Dividend paid / drawings by proprietor or partners
(b) Dividend rate (%)
16. Retained profit (14 − 15)
17. Retained profit / net profit (%)

Form III — Analysis of Balance Sheet

LIABILITIES

Particulars	{{cma_year_1}} (Audited)	{{cma_year_2}} (Audited)	{{cma_year_3}} (Estimates)	{{cma_year_4}} (Projections)
CURRENT LIABILITIES
1. Short-term borrowings from banks (including bills purchased, discounted and excess borrowings placed on repayment basis) — (i) from applicant bank
(ii) from other banks
(iii) of which, bills purchased and discounted
Sub-total (A)
2. Short-term borrowings from others
3. Sundry creditors (trade)
4. Advance payments from customers / deposits from dealers
5. Provision for taxation
6. Dividend payable
7. Other statutory liabilities (due within one year)
8. Deposits / instalments of term loans / deferred payment credits / debentures etc. (due within one year)
9. Other current liabilities and provisions (due within one year) — specify major items
Sub-total (B)
10. Total current liabilities (A + B)
TERM LIABILITIES
11. Debentures (not maturing within one year)
12. Preference shares (redeemable after one year)
13. Term loans (excluding instalments payable within one year)
14. Deferred payment credits (excluding instalments due within one year)
15. Term deposits (repayable after one year)
16. Other term liabilities (including unsecured loans treated as long-term — see notes)
17. Total term liabilities (11 to 16)
18. Total outside liabilities (10 + 17)
NET WORTH
19. Ordinary share capital / proprietor's or partners' capital
20. General reserve
21. Revaluation reserve
22. Other reserves (excluding provisions)
23. Surplus (+) or deficit (−) in profit and loss account
24. Net worth (19 to 23)
25. Total liabilities (18 + 24)

ASSETS

Particulars	{{cma_year_1}} (Audited)	{{cma_year_2}} (Audited)	{{cma_year_3}} (Estimates)	{{cma_year_4}} (Projections)
CURRENT ASSETS
26. Cash and bank balances
27. Investments (other than long-term) — (i) Government and other trustee securities
(ii) Fixed deposits with banks
28. (i) Receivables other than deferred and export receivables (including bills purchased and discounted by banks)
(ii) Export receivables (including bills purchased and discounted by banks)
29. Instalments of deferred receivables (due within one year)
30. Inventory — (i) Raw materials (including stores used in manufacture): (a) imported
(b) indigenous
(ii) Stocks-in-process
(iii) Finished goods
(iv) Other consumable spares: (a) imported
(b) indigenous
31. Advances to suppliers of raw materials and stores / spares
32. Advance payment of taxes
33. Other current assets — specify major items
34. Total current assets (26 to 33)
FIXED ASSETS
35. Gross block (land and building, machinery, work-in-progress)
36. Depreciation to date
37. Net block (35 − 36)
OTHER NON-CURRENT ASSETS
38. Investments / book debts / advances / deposits which are not current assets — (i)(a) Investments in subsidiary companies / affiliates
(i)(b) Others
(ii) Advances to suppliers of capital goods and contractors
(iii) Deferred receivables (maturity exceeding one year)
(iv) Others
39. Non-consumable stores and spares
40. Other non-current assets, including dues from directors / partners
41. Total other non-current assets (38 to 40)
42. Intangible assets (patents, goodwill, preliminary expenses, bad or doubtful debts not provided for, etc.)
43. Total assets (34 + 37 + 41 + 42)
44. Tangible net worth (24 − 42)
45. Net working capital [(17 + 24) − (37 + 41 + 42)] — to tally with (34 − 10)
46. Current ratio (34 ÷ 10)
47. Total outside liabilities / tangible net worth (18 ÷ 44)

Additional information

Particulars	{{cma_year_1}} (Audited)	{{cma_year_2}} (Audited)	{{cma_year_3}} (Estimates)	{{cma_year_4}} (Projections)
(A) Arrears of depreciation
(B) Contingent liabilities — (i) Arrears of cumulative dividends
(ii) Gratuity liability not provided for
(iii) Disputed tax / duty liabilities
(iv) Other liabilities not provided for

Notes on regrouping: ____________ [list every reclassification from the audited balance sheet — e.g. unsecured loans from promoters shown under item 16 on the strength of an undertaking not to withdraw them during the currency of the bank facility; debtors outstanding beyond the period the Bank treats as current moved to item 38]

Form IV — Comparative Statement of Current Assets and Current Liabilities

Particulars	{{cma_year_1}} (Audited)	{{cma_year_2}} (Audited)	{{cma_year_3}} (Estimates)	{{cma_year_4}} (Projections)
A. CURRENT ASSETS
1. Raw materials (including stores and other items used in the process of manufacture) — (a) imported
Months' consumption
(b) indigenous
Months' consumption
2. Other consumable spares, excluding those included in 1 above — (a) imported
(b) indigenous
3. Stocks-in-process
Months' cost of production
4. Finished goods
Months' cost of sales
5. Receivables other than export and deferred receivables (including bills purchased and discounted by bankers)
Months' domestic sales, excluding deferred payment sales
6. Export receivables (including bills purchased and discounted)
Months' export sales
7. Advances to suppliers of raw materials and stores / spares, consumables
8. Other current assets, including cash and bank balances and deferred receivables due within one year — specify major items
9. Total current assets (to agree with item 34 of Form III)
B. CURRENT LIABILITIES (other than bank borrowings for working capital)
10. Creditors for purchase of raw materials, stores and consumable spares
Months' purchases
11. Advances from customers
12. Statutory liabilities
13. Other current liabilities — specify major items
14. Total (to agree with sub-total B of Form III)

Form V — Computation of Maximum Permissible Bank Finance (MPBF) for Working Capital

Particulars	{{cma_year_1}} (Audited)	{{cma_year_2}} (Audited)	{{cma_year_3}} (Estimates)	{{cma_year_4}} (Projections)
1. Total current assets (item 9 of Form IV)
2. Other current liabilities, other than bank borrowings (item 14 of Form IV)
3. Working capital gap (1 − 2)
4. Minimum stipulated net working capital — 25% of the working capital gap, or 25% of total current assets, according to the method of lending applied (export receivables to be excluded under both methods)
5. Actual / projected net working capital (item 45 of Form III)
6. Item 3 minus item 4
7. Item 3 minus item 5
8. Maximum permissible bank finance (item 6 or item 7, whichever is lower)
9. Excess borrowings representing shortfall in net working capital (4 − 5)

MPBF working for the year of assessment ({{cma_year_4}}), on the method applied by the Bank:

Particulars	Amount
1. Total current assets
2. Other current liabilities, other than bank borrowings
3. Working capital gap (1 − 2)
4. Minimum stipulated net working capital
5. Actual / projected net working capital
6. Item 3 minus item 4	0
7. Item 3 minus item 5	0
8. Maximum permissible bank finance (lower of 6 and 7)	____________
Fund-based working capital limit requested	____________

Method of lending applied: ____________ [Method I — 25% of working capital gap / Method II — 25% of total current assets / turnover method / cash budget method. Where the Bank assesses the limit on the turnover method, replace this working with: projected annual turnover; working capital requirement at 25% of turnover; borrower's margin at 5% of turnover; bank finance at a minimum of 20% of turnover]

Form VI — Funds Flow Statement

Particulars	{{cma_year_1}} (Audited)	{{cma_year_2}} (Audited)	{{cma_year_3}} (Estimates)	{{cma_year_4}} (Projections)
1. SOURCES — (a) Net profit (after tax)
(b) Depreciation
(c) Increase in capital
(d) Increase in term liabilities (including public deposits)
(e) Decrease in: (i) fixed assets
(ii) other non-current assets
(f) Others
(g) Total sources
2. USES — (a) Net loss
(b) Decrease in term liabilities (including public deposits)
(c) Increase in: (i) fixed assets
(ii) other non-current assets
(d) Dividend payments / drawings
(e) Others
(f) Total uses
3. Long-term surplus (+) / deficit (−) (1 − 2)
4. Increase / decrease in current assets (as per break-up below)
5. Increase / decrease in current liabilities other than bank borrowings
6. Increase / decrease in working capital gap
7. Net surplus (+) / deficit (−) (difference of 3 and 6)
8. Increase / decrease in bank borrowings
Increase / decrease in net sales
Break-up of item 4 — (i) Increase / decrease in raw materials
(ii) Increase / decrease in stocks-in-process
(iii) Increase / decrease in finished goods
(iv) Increase / decrease in receivables: (a) domestic
(b) export
(v) Increase / decrease in stores and spares
(vi) Increase / decrease in other current assets

Statement of Assumptions Underlying the Estimates and Projections

Item	Assumption adopted by management	Basis / evidence
Sales growth		Orders in hand / capacity / past trend
Gross margin and raw material cost
Holding period — raw materials, stock-in-process, finished goods		Past holding levels / production cycle
Collection period for receivables		Credit terms / past collection record
Credit period from suppliers
Capital expenditure and its funding
Interest rate on bank borrowings		Sanction terms
Tax rate and regime
Drawings / dividend and infusion of capital or unsecured loans

The above assumptions and the estimates and projections based on them have been adopted by the management of {{client_name}}.

For {{client_name}}

_______________________________

Authorised Signatory (name and designation): ____________

Usage Notes

Tie-outs the credit officer checks first: item 9 of Form IV = item 34 of Form III; item 14 of Form IV = sub-total (B) of Form III; item 45 of Form III = item 34 minus item 10; closing stocks in Form II = inventory in Form III; item 14 of Form II + depreciation = sources (a) and (b) in Form VI.
Term-loan proposals: add projection columns up to the last year of repayment, and attach the DSCR working. Working-capital renewals normally need only the four columns printed here.
Instalments of term loans falling due within the next twelve months go under current liabilities (item 8). Many banks exclude them when computing the current ratio and MPBF — follow the Bank's own appraisal note and state the treatment.
Holding levels in Form IV (months' consumption, months' sales) are what the Bank compares with the past trend. A projection that needs higher holding levels than the audited years did should carry the reason in the Statement of Assumptions.
Keep the signed audited financial statements for the two actual years, the provisional figures for the current year and the management-signed assumptions on file — the covering note relies on each of them.

Covering note signed by:

Place: __________________

Date: 1 October 2026

For {{firm_name}}

Chartered Accountants

Firm Registration No.:

_______________________________

Partner

Membership No.: {{icai_membership_no}}

UDIN: ____________________

Free · Standard resource form required · Firm data stays in your browser

What’s inside

An excerpt from the template.

CREDIT MONITORING ARRANGEMENT (CMA) DATA

Borrower: ___ (PAN: ___)

Amounts in ₹ ____________ [lakh / crore — state the unit once and use it in every form]

Covering Note of the Chartered Accountant

↑ Excerpt only — the full template is what you download as Word

About this template

What you’re downloading, and when to use it.

This template follows the format published by the Institute of Chartered Accountants of India (ICAI) in the AASB Audit Working Paper Templates (June 2023), the authoritative reference for Indian statutory-audit documentation. Fill in your firm’s letterhead and the engagement details on the form above, click Download Word file, and you’ll get a fully formatted .docx ready to use.

Everything is generated in your browser and on a stateless API endpoint — no account, nothing stored on our servers. We’ll ask for a work email once before your first download so we can send you the file and the occasional relevant update; after that, downloads on this device are instant. Edit freely in Word, Google Docs or Pages before sending to your client.

Common questions

FAQs.

What are the six forms in CMA data?

Form I lists the existing and proposed limits from all banks and institutions. Form II is the operating statement — sales, cost of sales, operating profit and net profit. Form III is the analysis of the balance sheet, with liabilities and assets regrouped into current, term and net-worth blocks and the key ratios worked out. Form IV compares current assets and current liabilities year on year with holding levels in months. Form V computes the Maximum Permissible Bank Finance. Form VI is the funds flow statement. Each form runs across audited years, the current year's estimates and the projection year.

How is MPBF calculated under the Tandon Committee methods?

Start with the working capital gap — total current assets less current liabilities other than bank borrowings. Under the first method the borrower brings in 25% of that gap from long-term funds and the bank finances up to 75% of it. Under the second method the borrower brings in 25% of total current assets, so bank finance is 75% of current assets less other current liabilities, which works out to a minimum current ratio of 1.33:1. Form V takes the stipulated margin (item 4), compares it with the net working capital the borrower actually has or projects (item 5), and the lower of the two resulting figures is the MPBF.

Is CMA data still required by RBI in 2026?

No. The Credit Monitoring Arrangement replaced the earlier Credit Authorisation Scheme in 1988, and in April 1997 RBI withdrew the prescribed MPBF norms and left banks free to assess working capital under their own board-approved policies. Banks kept the CMA forms as their standard data format, so the forms are a matter of banking practice. Check the lender's own format and method — some use the second method, some a cash-budget approach for seasonal or contract businesses, and some have added their own rows.

When does a bank use the turnover method instead of MPBF?

For smaller limits. Following the Nayak Committee, working capital is assessed at 25% of projected annual turnover, of which the bank finances at least 20% and the borrower brings 5% as margin. RBI's directions on lending to the MSME sector apply this simplified method to micro and small enterprises for working-capital limits up to ₹5 crore. The borrower still files CMA data in most banks, but the limit is driven by accepted turnover, so the sales projection in Form II is the figure the bank will test hardest.

Can a CA certify CMA data?

A CA can prepare it and say exactly what was done; a CA should not certify projected figures as true and correct. Audited years can be confirmed as agreeing with the signed financial statements. Estimates and projections belong to the management. Clause (3) of Part I of the Second Schedule to the Chartered Accountants Act, 1949 treats it as professional misconduct to let one's name be used with an estimate of future earnings in a way that suggests the member vouches for the accuracy of the forecast. If the bank wants more than a preparer's note, the route is an examination report under SAE 3400, which gives negative assurance on the assumptions and carries a caveat on achievability.

What do large borrowers need to show beyond the MPBF figure?

Under RBI's Guidelines on Loan System for Delivery of Bank Credit of 5 December 2018, borrowers with aggregate fund-based working capital limits of ₹150 crore and above from the banking system must take a minimum share of the limit as a working capital loan rather than cash credit — 40% from 1 April 2019 and 60% from 1 July 2019. For such borrowers, Form I should show the loan component and the cash credit component separately.

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