ICICI signs MoU with NSIC to provide credit to MSMEs

Mumbai, Jan 22 (KNN) In a joint initiative to support the small industries, private sector lender ICICI bank has signed a memorandum of understanding (MoU) with the National Small Industries Corporation (NSIC) for providing extended credit to the MSME sector.

Under this agreement, the NSIC will share the proposals of its associated MSMEs for credit support to ICICI Bank.

The bank, in turn, will offer credit and other tailored business solutions to these MSMEs as per its norms, the bank said in a statement.

This MoU will promote availability of credit facilities for sustainable development of MSMEs. (KNN Bureau)