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HDFC Bank signed MoU with NSIC

Published on September 09, 2021
Current Context: India’s largest private sector bank, HDFC Bank has signed MoU with National Small Industries Corporation (NSIC).
HDFC Bank signed MoU with NSIC
  • The MoU was signed to grant credit support to the MSME sector of India.
  • The HDFC Bank will offer MSMEs specially designed schemes that will enhance their competitiveness in the market.
  • The support will be granted to the MSME projects in the areas they are located and to other major industrial sectors of India.
  • This partnership will help to enhance the growth of MSME and ultimately economy of India, as MSME contributes to 30% of the GDP of India.
  • The bank will accept the loans forwarded by NSIC and will sanction the loans on a top priority and as per its lending policy.
  • Static Part: 
    • HQ of HDFC Bank: Mumbai
    • MD and CEO of HDFC Bank: Sashidhar Jagdishan
    • HQ of NSIC: New Delhi
    • CMD of NSIC: Vijayendra

Question: 

Q.1 Which bank signed MoU with National Small Industries Corporation (NSIC) to grant credit support to the MSME sector?
a. ICICI Bank
b. HDFC Bank
c. Karnataka Bank
d. Axis Bank

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