hdfc bank: HDFC Bank partners with NSIC to offer credit support to MSMEs – The Economic Times

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NEW DELHI: Continuing its efforts to support MSMEs, HDFC Bank has signed a Memorandum of Understanding (MoU) with National Small Industries Corporation (NSIC) to offer credit support to MSMEs across the country.

As part of this collaboration, HDFC Bank will provide MSMEs with schemes to enhance their competitiveness. Under this financing arrangement HDFC Bank branches will extend support to MSME projects in the areas they are located or other industrial sectors across the country.

The MoU was signed by Gaurang Dixit, Director of Finance, NSIC and Akhilesh Kumar Roy, National Head – Sales Excellence and Transformation, HDFC Bank. The event was digitally attended by Rahul Shukla, Group Head – Commercial and Rural Banking, HDFC Bank.

Role of Bank:

  • Accept loan applications forwarded by NSIC and consider sanctioning loans on merit basis and as per lending norms laid down in the lending policy of the bank.
  • Financing projects relating to MSME Sector at different places where bank branches are located or other important industrial centers throughout the country.

In a statement Shukla said, “We believe this partnership with NSIC will help expedite the MSME Sector growth which is the backbone of the country both in terms of economic development and job creation.”

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