National Small Industries Corporation signed MoU with IndusInd Bank
Corporate/Business Current Affairs 2011. NSIC signed a MoU with IndusInd Bank under its Bank Credit Facilitation Scheme
The National Small Industries Corporation (NSIC) towards the end of April 2011signed a memorandum of understanding with IndusInd Bank thereby adding another bank under its Bank Credit Facilitation Scheme.
The alliance will further strengthen NSIC's endeavours towards catering to the financial needs of micro, small and medium enterprises (MSMEs). Also the alliance is likely to offer an opportunity to the MSMEs to switch over from their existing banks to IndusInd Bank depending upon their credit needs.
The MoU was signed by NSIC Director (Finance) Ravindra Nath and IndusInd Bank Assistant Vice-President J.S. Tuteja.