NSIC signs MOU with Ministry of MSME

The National Small Industries Corporation Limited (NSIC) signed an MoU with Ministry of Micro, Small and Medium Enterprises (MSME) for the year 2019-20. The MoU envisages provision of enhanced services by NSIC under its marketing, financial, technology, and other support services schemes for MSMEs in the country.

The Corporation projects to increase Revenue from Operation by 22% from Rs. 2540 crore in the year 2018-19 to 3100 crore in the year 2019-20.

Important Takeaways for LIC AAO/ADO Mains-
1. NSIC Limited is established by the Government of India in 1955.
2. NSIC falls under Ministry of Micro, Small & Medium Enterprises of India.
3. Headquarters of NSIC is in New Delhi.

Source- Press Information Bureau (PIB)

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