ICICI Bank, India’s largest private sector bank and second largest bank in the country, has 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. This joint initiative aims to support MSMEs with superior banking solutions to prepare them for meeting emerging global challenges.
ICICI Bank is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of $122 billion at December 31, 2012. The Bank’s presence currently spans 19 countries, including India.
