RBL, Nasscom sign MoU for credit solution to ICT MSMEs

The RBL Bank and Nasscom on Thursday announced entering into an MoU to provide customised credit solutions to MSMEs in the Information and Communication Technology sector.

"As part of the MoU, the two entities will collaborate for various activities including joint events, knowledge sharing sessions and ensure continuous engagement with various chapters in ten locations across India," a statement said.

The collaboration is aligned at the central government's mission to promote and encourage the MSMEs.

The partnership will comprise key services like simplified assessment procedure and processing and competitive pricing.

Structured mentoring of MSMEs on a periodic basis will also be available, the statement said.

"As a bank, we have stayed focused on achieving inclusive and all-encompassing growth and this partnership will help tap into the huge enterprise pool of NASSCOM and expand our reach. Additionally, it will enable the MSMEs to benefit from our wide bouquet of offerings," Head, Commercial Banking, RBL Bank Vincent Valladares said.

"Through this partnership with RBL Bank, we will be able to extend support to the MSME ecosystem, and additionally provide them with an opportunity to avail seamless credit facility. We see this association as a medium to enable the right framework for the growth of MSMEs in the country," NASSCOM SME Council chairman Kamal Agarwala said.