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ICICI Bank signs MoU with NSIC to extend credit to MSMEs

This MoU will promote availability of credit facilities for sustainable development of Micro, Small and Medium Enterprises

January 20, 2014 2:56 IST | India Infoline News Service
ICICI Bank, India’s largest private sector bank and second largest bank in the country, signed a Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC).

This MoU will promote availability of credit facilities for sustainable development of Micro, Small and Medium Enterprises (MSMEs). Under this agreement, NSIC will share proposals of its associated MSMEs for credit support to ICICI Bank. The Bank, in turn, will offer its credit and other tailored business solutions to these MSMEs as per its norms.

The MoU was signed by Mr. Bhavesh Gupta, Head – Self Employed Segment, ICICI Bank  and Mr. Ravindra Nath, Director (Finance), NSIC in the presence of Mr. Anuj Bhargava, Zonal Head, Corporate Banking, ICICI Bank and Mr. Gaurang Dixit, General Manager, NSIC.

This joint initiative aims to support MSMEs with superior banking solutions to prepare them for meeting emerging global challenges.


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