Union Bank of India inks MOU with NSIC to support MSMEs with credit requirements

Hyderabad –  Union Bank of India ( UBI) on Saturday said that it has entered into an MOU with The National Small Industries Corporation Ltd (NSIC) under “NSIC Bank Credit Facilitation Scheme” to support MSMEs with credit requirements.
Under the arrangement, the MSME Unit can approach any of NSIC branch offices which are also operating as Finance Facilitation Centre (FFC) and submit their request for loan requirements from Union Bank of India, the Bank said in a release.
The official sitting at the NSIC Branch will provide hand holding support to the MSME unit by assisting them in completing all documentation as required for further submission to the Bank.
These documents are to be provided by the MSME unit based on the checklist of the Bank. No fee is charged from the MSME unit for applying for loan under this scheme.
The agreement was signed by Mr. P K Das, FGM-Delhi on behalf of Union Bank of India and Mr P R Kumar CGM, NSIC.