Benefits of NSIC Raw Material Assistance for MSMEs
Raw Material forms the major chunk of working capital requirement of any industry therefore NSIC has launched the Raw Material Assistance (RMA) Scheme to cater to the needs of Micro, Small and Medium Enterprises. NSIC’s RMA against Bank Guarantee (BG) requires simple documentation and assistance to the extent of Rs.2 crores can be provided very quickly. This Assistance is now also provided to retail traders with turnover of over Rs.1 crore and wholesale traders with turnover of over Rs.1.50 crore. The salient features are : Simple documentation & quick process for speedy disposal of proposal upto Rs.2 crores. Maximum Amount of Assistance per MSME is Rs.5 Crore and for a Group is Rs.15 Crores . Financial Assistance for procurement of all types of Raw Materials & Inputs upto 180 days. Immediate payment to the Raw Material Suppliers without delay. Interest rate varies from 9% to 10.75% per annum base...