New Delhi: IndusInd Bank has entered into a strategic Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC), a Government of India enterprise under the Ministry of MSME. The collaboration aims to accelerate credit delivery and extend customized banking solutions to over 6.7 crore Udyam-registered Micro, Small, and Medium Enterprises (MSMEs) nationwide.
Expanding MSME Financing Opportunities
The MoU was formalized in New Delhi in the presence of Union Cabinet Minister for MSME Jitan Ram Manjhi, Secretary of the Ministry of MSME S.C.L. Das, Joint Secretary Mercy Epao, and NSIC CMD Dr. Subhransu Sekhar Acharya. Senior officials including Gaurav Gulati, Director (Finance), and V. Raghunath, EO to CMD, DGM (Finance), also attended the signing ceremony.
Under the agreement, IndusInd Bank will provide tailored financial solutions such as working capital support, term loans, and structured credit facilities. These services will help MSMEs associated with NSIC access faster and more efficient banking support to scale their businesses.
Strengthening NSIC’s Flagship Schemes
The partnership will complement NSIC’s flagship initiatives, including the Credit Facilitation Scheme and the Single Point Registration Scheme. These programs enable MSMEs to secure bank finance with ease and gain preferred treatment in government procurement. By combining these schemes with IndusInd Bank’s banking expertise, the collaboration will create a stronger support system for small enterprises.
Driving Growth and Self-Reliance
The initiative is aligned with the Government of India’s vision to empower MSMEs as drivers of economic growth. By bridging credit gaps, improving market access, and enabling enterprises to grow sustainably, the MoU reinforces efforts to promote self-reliance and inclusive economic development across the country.
About NSIC
The National Small Industries Corporation (NSIC), established in 1955, operates under the Ministry of MSME. It is dedicated to supporting the growth of small enterprises through credit facilitation, government procurement programs, and capacity-building initiatives.
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