Mishra also stated that the objective of the databank is to have one-stop source of information of MSMEs of India, including their credit and technology, requirement in terms of raw material and marketing, etc. A decision has also been taken that no grant or subsidy will be given to any MSMEs unless the data is captured on the MSME Databank.

The NSIC, which provides suitable credit support to the various MSME units for purchase of raw material, has started an online Finance Facilitation Centre on http://www.nsicffconline.in To start with, the Finance Facilitation Centres will become operational at Jalandhar, Peenya, Ludhiana, Guwahati, Lucknow and Delhi. The portal will allow the MSMEs to apply for loans from the various banks on the NSIC portal itself. NSIC has also signed MoUs with 33 banks, 14 of whom have agreed to associate with online Finance Facilitation Web Portal.
END