ICICI Bank signs MoU with NSIC to extend credit to MSMEs

January 20, 2014

New Delhi: ICICI Bank, India’s largest private sector bank and second largest bank in the country, signed a Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC).

This MoU will promote availability of credit facilities for sustainable development of Micro, Small and Medium Enterprises (MSMEs). Under this agreement, NSIC will share proposals of its associated MSMEs for credit support to ICICI Bank. The Bank, in turn, will offer its credit and other tailored business solutions to these MSMEs as per its norms.

The MoU was signed by Mr. Bhavesh Gupta, Head – Self Employed Segment, ICICI Bank and Mr. Ravindra Nath, Director (Finance), NSIC in the presence of Mr. Anuj Bhargava, Zonal Head, Corporate Banking, ICICI Bank and Mr. Gaurang Dixit, General Manager, NSIC.

This joint initiative aims to support MSMEs with superior banking solutions to prepare them for meeting emerging global challenges.

About ICICI Bank Ltd: ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of USD 124.00 billion at March 31, 2013. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and its largest securities brokerage firm, mutual fund and private equity firm. ICICI Bank’s presence currently spans 19 countries, including India.

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Mr. Sujit Ganguli
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ICICI Bank Limited
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