New Delhi: The National Small Industries Corporation (NSIC) has entered into a significant Memorandum of Understanding (MoU) with IDBI Bank to strengthen credit facilitation for Micro, Small, and Medium Enterprises (MSMEs) across India. This collaboration is part of NSIC’s ongoing efforts to provide greater financial support to MSMEs under its Credit Facilitation Program.
MoU to Facilitate Referrals for MSME Loan Products
The partnership will serve as a foundational framework for referring potential MSME customers who express interest in various loan products offered by IDBI Bank. Through this MoU, NSIC will help identify and guide MSMEs toward obtaining timely financial assistance from IDBI Bank.
Pan-India Reach to Support MSME Financing
The credit facilities arranged under this MoU will extend to MSME projects located in various regions, wherever IDBI Bank has branches or in prominent industrial centers and clusters nationwide. This broad coverage ensures enhanced access to finance for MSMEs irrespective of their geographic location.
Signing Ceremony and Key Participants
The MoU was signed on 11th July 2025 by:
- Mr. Sanjay Rautela, Chief General Manager, on behalf of NSIC
- Mr. Chandra Shekhar Arya, General Manager, Priority Sector, IDBI Bank, Head Office, Mumbai
- The signing took place in the presence of senior officials including:
- Dr. Subhransu Acharya, CMD, NSIC
- Mr. Gaurav Gulati, Director (Finance), NSIC
- Other dignitaries from NSIC and IDBI Bank
Boosting MSME Growth through Financial Inclusion
This partnership aims to catalyze growth in the MSME sector by easing access to credit, which remains a crucial challenge for many small enterprises. By streamlining the loan referral process, NSIC and IDBI Bank seek to empower MSMEs to scale operations, adopt new technologies, and contribute more effectively to India’s economy.
About NSIC
The National Small Industries Corporation (NSIC) is a government of India enterprise established in 1955 to promote, aid, and foster the growth of Micro, Small, and Medium Enterprises (MSMEs) in the country. It’s an ISO 9001:2015 certified organization under the Ministry of MSME. NSIC provides various support services including marketing assistance, financial aid, technology support, and more to help MSMEs enhance their competitiveness and sustainability.
