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The National Small Industries Corporation Limited (NSIC), a Mini Ratna enterprise under the Ministry of MSME, has handed over a dividend of Rs 43.89 crore to the Government of India for the financial year 2024–25.

The cheque was presented by Subhransu Sekhar Acharya, Chairman and Managing Director of NSIC, to Union MSME Minister Jitan Ram Manjhi and Minister of State Shobha Karandlaje at a ceremony held on Tuesday.

Applauding the corporation’s performance, the Union Minister said NSIC continues to play a key role in empowering MSMEs through its integrated support services. Both leaders expressed confidence in NSIC’s continued contribution to enterprise creation, skill development, and financial inclusion.

Meanwhile, Dr. Acharya shared that NSIC achieved a revenue of Rs 3,431 crore and a Profit After Tax (PAT) of Rs 146.30 crore, marking a 15.6 per cent growth over the previous year.

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In a parallel development, NSIC signed Memorandums of Understanding (MoUs) with IndusInd Bank, Karnataka Bank, Axis Bank, Dhanlaxmi Bank, and AU Small Finance Bank to expand credit availability for small businesses under its MSME Credit Facilitation Programme.

According to an official statement, the MoUs aim to make credit more affordable and accessible for MSMEs. “The MoUs were exchanged between NSIC's Director, Finance, Gaurav Gulati and senior officials from various banks,” the release said.

The partnership is designed to connect MSMEs to formal financial systems, offering them handholding support and extending banks’ outreach to micro and small enterprises across the country.

The initiative aligns with Prime Minister Narendra Modi’s ‘Vocal for Local’ campaign, which encourages Indians to support domestic manufacturing, job creation, and local economic growth by preferring homegrown products over imports.