National Small Industries Corporation

(A Government of India Enterprise)

Facilitating the Growth of Small Enterprise since 1955

Meeting with SBI and ICICI Bank at Mumbai on 16.04.2019


24 Apr 2019
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Shri. P. Udayakumar, Director (Planning & Marketing) had a meeting with State Bank of India officals Sh. Haridas K.V., Deputy Managing Director (Retail Business) and Sh. Narayanan Sadanandan, Chief General Manager (SME & Supply Chain Finance). Director (P&M) presented the existing NSIC schemes available for MSMEs with main focus on Financing to MSMEs, RMA against BG, and Bank Tie up. Director (P&M) mainly discussed on the point that how SBI bank would like to have more tie up with NSIC for circular finance / inventory finance for MSMEs. Scope for New Vertical for Machine Selling was discussed with SBI officials. Discussion was also held for Micro Finance, as SBI is having the chain of agencies at district level. SBI officers pleased to inform that the same chain can be utilized by NSIC for reaching to MSMEs under to provide assistance under our various schemes. SBI officers found very positive and hopeful to join to work together for MSMEs and assured full fledge cooperation to work together for the mutual benefits of organization. Shri. P. Udayakumar, Director (Planning & Marketing) also had a meeting with Shri Pankaj Gadgil, Head (Self Employed Segment), ICICI Bank and Shri Jatin Govil, Product Head (Business & Loans), ICICI Bank. Main thrust during the discussion was on the subject that how ICICI bank would like to have more tie up with NSIC for circular finance / inventory finance for MSMEs. Mr. Gadgil explained about the bill discounting where NSIC can also extend the same facility for MSME. Mr. Gadgil explained about their facilities available for MSMEs and also informed that Plat-form of ICICI is available even for export oriented unit where NSIC can join with ICICI. Mr. Gadgil expressed that More MSMEs can be introduced to ICICI bank from the registered units available under Data Bank and ICICI bank can extend the loan facility by confirming the credit worthiness based on their transactions carried out by MSME units with NSIC. Meeting was ended on a positive note with assurance of full fledge cooperation to work together for the mutual benefits of MSMEs.