NSIC Raw Material Assistance Online Request : National Small Industries Corporation
Organization : National Small Industries Corporation
Service Name : Raw Material Assistance Online Request
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Website : https://www.nsic.co.in/Schemes/Raw-Material-Against-BG
Download Application Form: https://www.statusin.in/uploads/20241-Form.PDF
Online Request Form:https://www.nsic.co.in/schemes/Raw-Material-Against-BG
Raw Material Assistance :
Raw Material Assistance Scheme aims at helping MSEs by way of financing the purchase of Raw Material (both indigenous & imported). This gives an opportunity to MSEs to focus better on manufacturing quality products.
Related : SIDBI Service Sector Assistance : www.statusin.in/20214.html
Benefits of the Scheme:
** Financial Assistance for procurement of Raw Material upto 90 days.
** MSEs helped to avail Economics of Purchases like bulk purchase; cash discount etc
** NSIC takes care of all the procedures, documentation & issue of Letter of credit in case of imports.
How to Apply:
The Entrepreneurs are required to apply for Raw Material Assistance only on the prescribed application forms. The application forms downloaded from the link given below may be filled and submitted to the concerned Branch Office. The blank forms are also available free of charge from the Branch offices.
The Process:
** Duly filled application form is to be submitted along with the Application
** Preliminary appraisal and Unit inspection is carried out by NSIC.
** Sanction of Limit to the Unit.
** Signing of agreement between NSIC and Unit.
** Disbursement of assistance to the unit.
Terms and Conditions:
** Security in the form of Bank Guarantee from Approved/Nationalised Banks.
** Processing fee- Processing fee shall be charged @ 1% p.a.
Documents To Be Enclosed With Application Form:
** A passport size photograph of each of the Proprietor / Directors / Partners / Society office bearers.
** Self-attested photocopy of MSMEs registration no.(only for medium enterprises) & Sales Tax / VAT Registration Certificate.
** Self attested statement of personal assets and liabilities along with the residential address of Proprietor/Directors/Partners.
** Copy of Memorandum & Articles of Association along with list of Directors in case of Pvt. Ltd. / Ltd. Co. OR Copy of Partnership Deed duly notarized in case of Partnership concern. OR A copy of Bye Laws & charter of society along with a list of Governing body / executive members in case of society.
** A copy of Board Resolution in case of Pvt./Public Ltd. Co., Power of Attorney in case of partnership firm & a Governing Body Resolution in case of Society authorizing the signatory to sign and to deal with NSIC in respect of financial assistance required, for and on behalf of the applicant unit.
** Specimen signatures of authorized signatory attested by bank.
** Copy of sanction letter for credit limit sanctioned by the FIs/ banks other than the bank who issued Bank Guarantee.
About Us :
National Small Industries Corporation (NSIC), is an ISO 9001-2008 certified Government of India Enterprise under Ministry of Micro, Small and Medium Enterprises (MSME).
NSIC has been working to promote, aid and foster the growth of micro, small and medium enterprises in the country. NSIC operates through countrywide network of offices and Technical Centres in the Country.