Jaipur: In its efforts to improve procedural easiness and help MSMEs avail bank loans in a quicker time frame, National Small Industries Corporation (NSIC) opened its first Online Finance Facilitation Centre in Rajasthan at Jaipur, its 6th in the country.
The NSIC centre will validate loan proposals and submit them online to banks selected by MSME units. The portal – www.nsicffconline.in – will also disseminate information about MSME schemes offered by the banks, financial institutions.
“The Online Finance Facilitation Centre is aimed at increasing procedural easiness, expediting the process for loan disbursal and enhancing the efficiency of banks as the applications will be tracked online,” said Ravindra Nath, Chairman and Managing Director of NSIC on October 22.
NSIC has signed MoUs with 31 banks and most of them have agreed to have online linkage with NSIC’s Finance Facilitation Web Portal, he added. The lack of awareness with regard to government schemes for MSMEs is a major problem and NSIC is trying to do the necessary hand-holding to bridge the information gap. It is planning to open two more centres in Ahmedabad and Mumbai next month. Before Jaipur, it has opened five such facilities in cities like Ludhiana, Jalandhar, Bengaluru, Guwahati and Hyderabad.
Source: Times of India
