New Delhi: National Small Industries Corporation (NSIC) and State Bank of India (SBI) have signed a memorandum of understanding (MoU) on August 5 to promote credit facilitation for sustainable development of MSMEs. The MOU was signed by AK Mishra, General Manager (BT/FFC), NSIC and Ved Prakash, Deputy General Manager at SBI, in the presence of Gaurang Dixit, Director (Finance), NSIC.
National Small Industries Corporation (NSIC) is a Miniratna PSU under the administrative control of Ministry of Micro, Small and Medium Enterprises (MSME). NSIC has been working to promote, aid and foster the growth of micro, small and medium enterprises in the country. NSIC operates through countrywide network of offices and Technical Centres in the Country. In addition, NSIC has set up training-cum-incubation centre managed by professional manpower. NSIC had registered its highest business turnover of Rs. 22,457 crores in FY'18 compared to Rs 20,622 crores during the financial 2016-17 and the Profit (Before Tax and Provision for pay revision) amounted to Rs. 175.33 crore as against Rs 165.07 crore in FY'17.
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