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NSIC inks MoU with private sector banks to facilitate MSMEs

Published: Aug 16, 2025

By TIOLCorplaws News Service

NEW DELHI, AUG 16, 2025: TOWARDS the objective of facilitating availability, accessibility & affordability of credit to MSMEs, National Small Industries Corporation (NSIC) entered into Memoranda of Understandings (MOUs) with various private sector banks such as Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank and IndusInd Bank on 11th August, 2025 under its MSME Credit facilitation program.

The Occasion witnessed the august presence of Jitan Ram Manjhi, Union Minister of MSME and S.C.L. Das Secretary (MSME). The MoUs were exchanged between Gaurav Gulati, Director (Finance), NSIC and senior officials from various banks in the presence of Mercy Epao, JS(SME), Dr. S. S. Acharya, CMD, NSIC and other senior officials from NSIC and banks.

The collaboration aims to extend handholding support to MSMEs and help them link to the formal financial system, with increased focus on the Banks to expand their outreach to deserving micro & small enterprises, the arrangement is expected to be a force multiplier in the efforts of Banks to reach the last mile.

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