Business EconomyPosted at: Aug 14 2025 4:45PM


NSIC entered into MoUs with banks to foster financial inclusion of MSMEs

New Delhi, Aug 14 (UNI) National Small Scale Industries (NSIC) entered into a Memoranda of Understandings (MoUs) with various private sector banks, including Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank, and IndusInd Bank under its MSME Credit Facilitation Program.
Multiple dignitaries, including Jitan Ram Manjhi, Union minister of MSMEs, and SCL Das, Secretary, MSMEs, were present at the event. The MoUs were exchanged by Gaurav Gulati, Director (Finance), MSMEs, and the senior officials of the respective banks.
The MoU is signed towards the objective of fulfilling the availability, accessibility and affordability of credit to Micro, Small, and Medium Enterprises (MSMEs). This collaboration is also intended to let MSMEs link in the mainstream financial system and shift the focus of multiple Banks to expand their outreach to deserving micro & small enterprises.
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