New Delhi: The National Small Industries Corporation (NSIC) has signed Memoranda of Understanding (MoUs) with five leading private sector banks — Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank, and IndusInd Bank — under its MSME Credit Facilitation Programme. The initiative aims to enhance the availability, accessibility, and affordability of credit for micro, small, and medium enterprises (MSMEs) across the country.
Strengthening MSME Financing Network
The MoUs were signed in the presence of Jitan Ram Manjhi, Union Minister of MSME, and S.C.L. Das, Secretary (MSME). The agreements were exchanged between Gaurav Gulati, Director (Finance), NSIC, and senior officials from the partner banks, in the presence of Ms. Mercy Epao, Joint Secretary (SME), Dr. S. S. Acharya, CMD, NSIC, and other senior representatives from both NSIC and the banking sector.
This collaboration will enable MSMEs to link more effectively with the formal financial system, ensuring easier access to credit. By expanding outreach to deserving micro and small enterprises, the initiative is expected to act as a force multiplier in extending banking services to the last mile.
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Commitment to MSME Growth
The partnership aligns with the Government of India’s vision to empower MSMEs as engines of economic growth and job creation. By leveraging the combined network and expertise of NSIC and partner banks, the programme will provide critical financial support, enabling businesses to invest, expand, and contribute to the nation’s economic development.
About NSIC
The National Small Industries Corporation (NSIC), a Government of India enterprise under the Ministry of MSME, has been facilitating the growth of small enterprises since its inception in 1955. Through a range of support services including credit facilitation, marketing, technology support, and skill development, NSIC plays a pivotal role in strengthening India’s MSME ecosystem.
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