BackMSMEs to get a new online platform to avail financial assistance
Rubique and NSIC will create an interface which will ease credit facilitation for MSMEs by allowing quicker decision-making process and evaluation
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New Delhi: With the aim to find a solution to the financial needs of the micro, small and medium enterprises (MSMEs), Rubique, the one-stop online marketplace providing technology enabled end-to-end solution to financing needs of MSMEs, has signed an agreement with National Small Industries Corporation Limited (NSIC), a mini-ratna enterprise of the ministry of micro, small and medium Enterprises, which provides integrated support to MSMEs.
Rubique and NSIC will create an interface which will ease credit facilitation for MSMEs by allowing quicker decision making process and evaluation.
This online platform will strengthen NSIC’s endeavour to provide integrated support to MSMEs, cater to their diverse needs in areas of marketing, credit, technology and other support services.
NSIC has tie-up arrangements with 33 public and private sector banks and financial institutions (FIs).
“Finance has always been a major issue for the MSMEs. Hence, finance facilitation is a crucial subject of intervention for NSIC. Building synergies with Rubique and offering its technology platform to MSMEs will also help NSIC align its efforts to promote Digital India initiative," said Ravindra Nath, chairman & managing director of NSIC.
This association will result in the launch of a website which will have Rubique’s matchmaking algorithm, to bring more certainty in the process by doing first level qualification check of the application by matching borrower’s eligibility with financial institutions’ lending criteria on the website itself. The details entered on the website will be transmitted to NSIC to enable real-time tracking of the cases across all their branches pan India and allow faster decision making at financiers’ end.
This agreement was signed at the inauguration of NSIC’s Bangalore Online Finance Facilitation Centre.
Other similar centres will open soon in Ludhiana, Guwahati, Lucknow, Ahmedabad, Mumbai and Delhi.
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