New Delhi, August 14, 2025 — In a bid to strengthen credit availability and financial inclusion for micro, small and medium enterprises (MSMEs), the National Small Industries Corporation (NSIC) has signed Memoranda of Understanding (MoUs) with five leading private sector banks — Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank, and IndusInd Bank — under its MSME Credit Facilitation Programme. The agreements were formalised on August 11, 2025.
The initiative is aimed at improving the availability, accessibility and affordability of credit for MSMEs, while offering handholding support to connect them with the formal banking system. The arrangement is expected to significantly expand the banks’ outreach to deserving micro and small enterprises, serving as a “force multiplier” for last-mile financial access.
The signing ceremony was attended by Union Minister for MSME Shri Jitan Ram Manjhi and MSME Secretary Shri S.C.L. Das. The MoUs were exchanged between NSIC Director (Finance) Shri Gaurav Gulati and senior representatives of the partner banks, in the presence of Joint Secretary (SME) Ms. Mercy Epao, NSIC Chairman and Managing Director Dr. S. S. Acharya, and other senior officials from NSIC and the banking sector.
According to NSIC, the collaboration will facilitate structured credit linkages for MSMEs, helping them scale operations and improve competitiveness in both domestic and global markets.
