NSIC to set up Digital Finance Facilitation Centre for MSMEs

NSIC’s Finance Facilitation Centre will ensure digital facilitation of loan proposals of MSMEs. At this patform various banks will provide collective funding options for the MSMEs, informed NSIC official adding that NSIC has also reduced the rate of interest for MSMEs up to the band of 10.5 to 12%.

NEW DELHI: The National Small Industries Corporation Ltd (NSIC) is ready to extend technical support to women entrepreneurs and entrepreneurs from various segments of the society said Ravindra Nath, Chairman and Managing Director of the corporation.

Sharing corporation’s focus areas, Mr Nath said the NSIC is building up data bank on the micro, small and medium enterprises (MSMEs) across the nation and studying the strengths and weaknesses to help revitalise them.

In another event in Bangaluru, Zonal General Manager of NSIC, Mr , Ravikumar informed, “NSIC’s is coming up with a Finance Facilitation Centre (FFC) at Peenya will ensure digital facilitation of loan proposals of micro, small, and medium-sized enterprises (MSMEs) with various banks to provide collective funding options for MSMEs through online portal.”

The finance facilitation will be done through www.nsicffconline.in, Kumar said at an Awareness Programme on NSIC’s FFCs organized by KASSIA in association with NSIC.

He added that the FFC initiative was in addition to the launch of the online MSME-Databank portal (www.msmedatabank.in) to gather information about MSMEs so as to facilitate time-bound, need-based and adequate funding for them.

He highlighted that registration by MSMEs in the databank portal is mandatory for claiming any benefits/concessions under government schemes. He also stated that NSIC had reduced the rate of interest for MSMEs which now was in a band of 10.5 to 12%.

KASSIA President A. Padmanabha announced that a Helpdesk to popularize and increase the awareness and usage of Finance Facilitation Centres among MSMEs would be opened shortly. The helpdesk would help micro and small scale entrepreneurs in filling up the application forms, loan proposals, and preparing of project reports, etc so as to deliver bankable proposals to the lending banks.