NSIC signs MOU with ICICI Bank providing credit support to MSME Units. The MOU was signed by Sh. Ravindra Nath Director(Finance) of NSIC and Sh. Bhavesh Gupta (Group Head-Self Employed Segment) of ICICI Bank on 15.01.14. This agreement will make it possible for two organizations to share their strengths in offering MSMEs the best reliable solutions to meet their credit requirements. On this occasion Director (Finance ) of NSIC proudly endorsed that this agreement is a value added tool that will enable us to create stronger links with MSMEs for meeting their diverse credit requirements.
At the 15th National Summit on Accelerating Business Transformation- Best in Class Practices and Culture ,Shri Ravindra Nath , Director (Finance),NSIC receives Top Rankers “Excellence Award for Financial leadership “in recognition of formulating strategies and policies for the development of MSMEs in India and abroad. The awards are given to recognize and honor deserving corporate and outstanding senior professionals in various management disciplines including HR, Marketing, Finance, IT and Operations.
NSIC has established a Vocational Training cum Incubation Centre (VTC/IC) at Addis Ababa, Ethiopia on turnkey basis under India Africa Forum Summit (IAFS-I), 2008 of Ministry of External Affairs, Government of India. The purpose of the Incubator is to provide hands on practical training to first generation budding entrepreneurs and unemployed persons in order to equip them with knowledge and expertise for setting up new small enterprises. The Centre is equipped to provide training in 20 types of manufacturing trades such as Soya Milk, Bakery & biscuits, tomato ketchup & fruit juice, honey processing, edible oil extraction, water filtration, packaging, gemstone cutting & polishing, jewelry making, paper napkin, toilet rolls, plastic bottle & caps, socks knitting, candle, chalk, wire nails, barbed wire, etc.The newly established Incubation Centre was handed over by NSIC to Federal Micro & Small Enterprises Development Agency (FeMSEDA), a Government Institution facilitating creation and support to Micro and Small Enterprises in Ethiopia on 15th November, 2013.
During the visit of Hon’ble President of India, Sh Pranab Mukherjee to Turkey, NSIC signed an Memorandum of Understanding with Small & Medium Enterprises Development Organisation (KOSGEB) of Turkey. The Mou was signed by Dr. H.P. Kumar, Chairman cum Managing Director on behalf of NSIC and Mr. Mustafa Kaplan, President of KOSGEB, in the presence of Hon’ble President of India and the Hon’ble President of Turkey.The said MoU envisages cooperation in the field of micro, small & medium enterprises in terms of experience sharing, building alliances in terms of technology transfer, joint ventures or sustainable business alliances.
A delegation led by Ambassador Mr. Jean –Baptiste ,Chief of Staff of the Bureau of the Chairperson ,Africa Union Commission visited NSIC during their recent visit to India to know about the activities of NSIC for the development of MSMEs in the country. The delegation was briefed by Dr. H.P. Kumar, CMD, NSIC and other officials about the various initiatives taken by NSIC within India and abroad. The African Union delegation also visited the NSIC’s Rapid Incubation centre for creating self employment opportunities and further expressed their desire to set up similar Incubation Centre(s) ,developing policies and Institutional framework for SME development in the African Union.
Shri MadhavLal, Secretary, MSME ,Government of India alongwith Dr.H.P.Kumar, CMD, NSIC interacted with the industries associations at Ludhiana to have their feedback and suggestions for increasing the manufacturing growth of MSME sector in the country.
Under its Corporate Social Responsibility initiatives, NSIC in association with Handicapped Welfare Federation set up a Computer Training Centre for the benefit of Weaker Sections of the Society. Shri A.K.Aggarwal, General Manager (SG)(HR) ,NSIC Limited inaugurated the centre.
NSIC entered into MOU agreement with State Bank of India on 8th July 2013 to promote and facilitate credit flow for sustainable development of MSMEs. This joint initiative aims at developing and strengthening of framework to support Micro, Small and Medium Enterprise with loan financing so as to prepare them for meeting emerging global challenges. The MOU was signed by Sh. Ravindra Nath Director (Finance) of NSIC and Sh. Bipin Kumar Bhardwaj Deputy General Manager of State Bank of India.
On 13 June 2013, NSIC and Canara Bank signed a MOU agreement to promote Credit facilitation for sustainable development of MSMEs.The agreement not only aims at facilitating credit for MSMEs but also encourages them for being rated under Performance and Credit Rating Scheme so as to prepare them for meeting emerging global challenges. The MOU was signed by Sh. Ravindra Nath Director (Finance) of NSIC and Sh. K.S Chandramouli General Manager of CANARA BANK.
NSIC has been making sustained endeavors for catering to the financial needs of MSMEs by making tie ups with various banks. This initiative has been extended with NSIC entering into MOU with SYNDICATE BANK on 10.06.2013. This makes SYNDICATE BANK the 22nd commercial bank to enter into this unique tie up arrangement . Under this MOU arrangement collaborative efforts would be undertaken to extend timely and affordable credit to MSMEs. The MOU was signed by Sh. Ravindra Nath Director (Finance) of NSIC and Sh. S.K. Thakkar General Manager of SYNDICATE BANK.
Prof.Shoji Shiba, Chief Adviser, Visionary Leaders for Manufacturing Program (VLFM ), Japan and Dr. Sarita Nagpal of CII called upon Dr. H.P. Kumar, CMD, NSIC to apprise him of their new initiative “ 1000 SME Projects” which aims to help MSMEs who have a customer –supplier relations to transform themselves into having win-win relationships.
A delegation led by His Excellency Mr.Jose Maria Morais ,High Commissioner, , Republic of Mozambique visited NSIC to discuss various areas of development cooperation between India and South African Development Community (SADC) members and to know about self-employment opportunities through Incubation program of NSIC in the country. The delegation was briefed by Dr. H.P. Kumar, CMD, NSIC and other officials about the program. The SADC Committee of Ambassadors expressed their keen interest in the Incubation Centres set up by NSIC for self employment creation.