(MENAFN- KNN India) New Delhi, Aug 14 (KNN) The National Small Industries Corporation (NSIC) has signed Memoranda of Understanding (MoUs) with five private sector banks - Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank, and IndusInd Bank - to enhance credit access for Micro, Small, and Medium Enterprises (MSMEs).

The agreements, inked on August 11, 2025, fall under NSIC's MSME Credit Facilitation Programme, aimed at improving the availability, accessibility, and affordability of credit for small businesses.

The signing ceremony was attended by Union MSME Minister Jitan Ram Manjhi and MSME Secretary S.C.L. Das.

The MoUs were exchanged between NSIC Director (Finance) Gaurav Gulati and senior officials from the participating banks, in the presence of Joint Secretary (SME) Mercy Epao, NSIC Chairman and Managing Director Dr. S.S. Acharya, and other senior representatives from both NSIC and the banks.

Through this collaboration, the banks will work with NSIC to extend handholding support to MSMEs, helping them connect with the formal financial system.

By focusing on expanding outreach to underserved micro and small enterprises, the initiative is expected to strengthen banks' last-mile connectivity and serve as a force multiplier in their efforts to support the sector.

(KNN Bureau)

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