The National Small Industries Corporation (NSIC) has taken a significant step to support Micro, Small, and Medium Enterprises (MSMEs) by entering into a Memorandum of Understanding (MOU) with Kotak Mahindra Bank. This agreement was signed on October 30, 2025, during the MSME Conclave held in Guwahati. The event was attended by several prominent figures, including Sushri Shobha Karandlaje, the Hon’ble Minister of State for MSME, Government of India.
The MOU was exchanged between Shri V Raghunath, Deputy General Manager (Finance) of NSIC, and Shri Ajay Mittal, Senior Executive Vice President of Kotak Mahindra Bank. The ceremony was witnessed by Dr. S. S. Acharya, Chairman and Managing Director of NSIC, among other dignitaries. This partnership aims to provide credit support to MSMEs through Kotak Mahindra Bank under the NSIC’s MSME Credit Facilitation Program.
The NSIC’s initiative is designed to facilitate access to credit for MSMEs, which are often faced with challenges in obtaining funding from traditional banking channels. By partnering with Kotak Mahindra Bank, the NSIC hopes to bridge this gap and provide MSMEs with the financial support they need to grow and expand their businesses. The MOU is expected to benefit a large number of MSMEs, particularly those in the northeastern region of India, where the MSME Conclave was held.
The presence of the Hon’ble Minister of State for MSME at the event underscores the government’s commitment to supporting the growth and development of MSMEs. The NSIC’s partnership with Kotak Mahindra Bank is a significant step towards achieving this goal, and it is expected to have a positive impact on the MSME sector in the country. With this agreement, the NSIC and Kotak Mahindra Bank are poised to make a meaningful contribution to the growth and development of MSMEs, which are a crucial part of India’s economy.