The National Small Industries Corporation (NSIC) signed MoUs with five private sector banks—Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank, and IndusInd Bank—to improve credit access for Micro, Small, and Medium Enterprises (MSMEs) under its MSME Credit Facilitation Programme. The agreements, aimed at enhancing the availability, accessibility, and affordability of credit for small businesses, were signed in the presence of Union MSME Minister Jitan Ram Manjhi, MSME Secretary S.C.L. Das, and other senior officials from NSIC and the participating banks. Through this collaboration, banks will work closely with NSIC to provide handholding support, expand outreach to underserved micro and small enterprises, and strengthen last-mile connectivity, thereby empowering MSMEs to connect with the formal financial system and boosting sector growth.
NSIC Signs MoUs With Five Banks To Boost Credit Access For MSMEs
