State Bank Of India

National Small Industries Corporation (NSIC) is likely to ink a pact with State Bank of India (SBI) for offering affordable and easy credit to the Micro, Small and Medium Enterprises (MSMEs). The talks to sign the agreement with SBI are in final stage. Currently, NSIC has such pacts with various banks, including YES Bank, HSBC, Axis Bank, Union Bank of India and Central Bank of India.

Most of the MSMEs face credit crunch as they fail to fulfill collateral requirements and have limited access to equity capital. NSIC will provide affordable and easy credit to small-and- medium-sized units units through such pacts. Meanwhile, NSIC is trying to sign this pact with the remaining banks so that small units get easy credit flow in every part of the country.

For the year ended March 31, 2013, the bank’s net profit surged by 20.48% at Rs 14104.98 crore as compared to Rs 11707.29 crore for the year ended March 31, 2012. Bank’s total Income has increased by 12.26% to Rs 135691.94 crore for the year under review from Rs 120872.90 crore for the previous fiscal.