IndusInd Bank has entered into a strategic Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC), marking a significant step toward expanding financial support for India’s 6.7 crore Udyam-registered Micro, Small and Medium Enterprises (MSMEs).
The MoU was signed in the presence of Union Cabinet Minister for MSMEs Jitan Ram Manjhi, Secretary S.C.L. Das, Joint Secretary Mercy Epao, NSIC Chairman and Managing Director Subhransu Sekhar Acharya, senior NSIC officials, and representatives from IndusInd Bank.
Under the agreement, IndusInd Bank will extend tailored banking services, including working capital finance, term loans, and structured credit facilities, to enterprises associated with NSIC. The initiative aligns with NSIC’s flagship programs such as the Credit Facilitation Scheme and Single Point Registration Scheme, which help small businesses secure institutional finance and preferential treatment in government procurement.
“Through this partnership, we aim to bridge critical credit gaps, enable MSMEs to compete in larger markets, and drive inclusive economic growth,” said an IndusInd Bank spokesperson.
The collaboration leverages NSIC’s trusted ecosystem and IndusInd Bank’s financial expertise and digital capabilities, supporting the government’s vision of self-reliance while strengthening the backbone of India’s economy.
