Jalandhar, Sep 1 (KNN) National Small Industries Corporation (NSIC) has launched its first Online Finance Facilitation Centre in Jalandhar. Online Finance Facilitation portal www.nsicffconline.in would enable digital facilitation of loan proposals of MSMEs with the banks.

Speaking on the occasion Ravindra Nath, CMD, NSIC, said the corporation is launching finance facilitation centres in different parts of the country which will facilitate in aggregating various credit requirements of MSMEs and after validation by NSIC officials will be submitted online to Banks selected by MSME units for speedy disposal of their credit proposals.

“Thus, easing access to finance for MSMEs, saving time without any cost to MSMEs. Various Banks have already agreed to have online linkage with NSIC’s Finance Facilitation Web Portal,” he added.

Informing about the recently launched web portal, www.msmedatabank.in, Nath said the portal would also help government bodies find MSME units manufacturing the products they require and help them study every minute detail, like the production capacity of the unit and raw material being used by it. "Now, government organizations will be able to identify the vendors anywhere from India within minutes, and place orders that will help in better implementation of the PPP policy," he said. (KNN Bureau)