“NSIC Signs MoUs with Private Sector Banks to Boost MSME Credit Facilitation”

In a major step towards enhancing the availability, accessibility, and affordability of credit for Micro, Small and Medium Enterprises (MSMEs), the National Small Industries Corporation (NSIC) signed Memoranda of Understanding (MoUs) with leading private sector banks including Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank, and IndusInd Bank on August 11, 2025, under its MSME Credit Facilitation Program.

The signing ceremony was graced by the Union Minister of MSME, Shri Jitan Ram Manjhi, and Secretary (MSME) Shri S.C.L. Das. The MoUs were formally exchanged between Shri Gaurav Gulati, Director (Finance), NSIC, and senior representatives of the participating banks, in the presence of Ms. Mercy Epao, Joint Secretary (SME), Dr. S. S. Acharya, CMD, NSIC, along with other senior officials from NSIC and partner banks.

Through this collaboration, NSIC and the banks aim to extend comprehensive support to MSMEs, enabling them to integrate seamlessly into the formal financial system. With an increased emphasis on expanding outreach, this initiative is expected to serve as a force multiplier, empowering banks to reach underserved micro and small enterprises and strengthen last-mile credit delivery.