To enhance the availability, accessibility, and affordability of credit for MSMEs, the National Small Industries Corporation (NSIC) signed Memoranda of Understanding (MoUs) on 11th August 2025 with leading private sector banks including Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank, and IndusInd Bank under its MSME Credit Facilitation Program.
The signing ceremony was graced by Shri Jitan Ram Manjhi, Union Minister of MSME, and Shri S.C.L. Das, Secretary (MSME). The MoUs were exchanged between Shri Gaurav Gulati, Director (Finance), NSIC, and senior bank officials, in the presence of Ms. Mercy Epao, JS (SME), Dr. S. S. Acharya, CMD, NSIC, along with other senior representatives from NSIC and the partner banks.
This collaboration aims to provide end-to-end support to MSMEs, enabling their integration into the formal financial system. With banks expanding their outreach to eligible micro and small enterprises, the initiative is expected to serve as a significant force multiplier in connecting financial institutions to last-mile entrepreneurs.