Rs 65.53 cr provided under Raw Material Assistance Scheme to SC/ST entrepreneurs in FY 2020-21: MSME minister
New Delhi, Jul 27 (KNN) National Small Industries Corporation (NSIC) under its Raw Material Assistance Scheme has provided credit assistance worth Rs 65.53 crore to SC/ST entrepreneurs during the financial year 2020-21, said a data share by MSME Minister Narayan Rane in the Rajya Sabha.
According to the data, this was up 10 per cent from Rs 59.50 crore in FY20, and 12.5 per cent from Rs 58.23 crore in FY19.
“NSIC provides financial assistance to MSMEs under their Raw Material Assistance (RMA) scheme against bank guarantee for payment to the suppliers,” Rane said on Monday.
This scheme is promoted by the NSIC of the Government of India. RMA scheme aims at helping MSMEs by way of financing the purchase of Raw Material (both indigenous & imported). NSIC facilitates MSMEs in raw material procurement in both ways i.e. against advance payment and also on credit, as per the requirement of MSMEs. This gives an opportunity to MSMEs to focus better on manufacturing quality products.
In a reply to another question, the minister also informed the parliament that no unit from the State of Kerala has availed the financial assistance under RMA scheme of NSIC during the last three years. Further, under National SC/ST Hub (NSSH), assistance is provided to SC/ST entrepreneurs through its various interventions to cater to the challenge of credit, market linkages, finance facilitation, Tender bid participation, etc. throughout the country including Kerala.
''Since the launch of the NSSH in October 2016, financial assistance to the tune of Rs 2.68 crore has been provided for SC/ST entrepreneurs in Kerala,'' he added.