National Small Industries Corporation (NSIC) announced reduction in fees and single point registration for MSMEs to mark Gandhi Jayanti this year.

“In credit support for Raw material, NSIC is offering reduction in the rate of interest for Micro Enterprises, ranging from 10.50 percent p.a. to 11.50 percent p.a. and for Small and Medium Enterprises ranges from 11 percent to 12 percent p.a. Further, the Micro Enterprises will also be given special reduction of .50 per cent p. a. in the processing fees on renewal which was earlier 1%”. Ravindra Nath, CMD, NSIC said while interacting with media at a function on October 2.

Nath also listed a host of new concessions planned for promotion of Micro & Small Enterprises such as

Reduction in fees for fresh registration of micro and small enterprises –

Rs 3000/- for turnover up to Rs 1 crore (Earlier it was Rs 5000) – for micro enterprises

Rs 5000/- turnover up to Rs 1 crore – For small enterprise

Enterprises attractive reduction in the registration fees for Micro enterprises.
Nominal registration fee (Rs. 100/-) for SC/ST units
A cap of Rs. 1 lakh on the registration charges for the Micro & Small Enterprises.
A reduction on the renewal fees with a cap of Rs. 50,000/- for Micro & Small Enterprises.

NSIC operates single Point Registration Scheme under the Government Purchase Programme, wherein MSMEs enlisted after third party Technical Inspection for Certification of their competency.

NSIC helps MSMEs in fulfilling their raw material requirement by tying up with bulk manufacturers for procuring the materials and supplying the same. NSIC also helps MSMEs in arranging credit in case they face fun crunch for buying raw material. In such cases, NSIC makes the payment on its own to raw material manufacturers against bank guarantee given by the SME unit.

“Every year, 10 – 12 k people get listed with NSIC for registration or renewal. Most of them are micro and small enterprises. So they will be benefited with this specially micro units”, Nath added.

He further said that there are about 10 k units which avail raw material and credit from us. So when interest is less then more people will be enrolled with us. It is combined advantage which they get.

He said that NSIC got good response of portal B2B.

On Khadi’s growth, he said that NSIC has made it necessary for all its employees to wear Khadi at least once in a week.

NSIC under MSME Ministry has been working to promote, aid and foster the growth of micro, small and medium enterprises in the country.