Bank of Baroda, NSIC ink pact to boost MSME financing support

Mumbai : Bank of Baroda, one of India’s leading public sector banks, has entered into a partnership with the National Small Industries Corporation (NSIC) to enhance credit accessibility for micro, small and medium enterprises (MSMEs). The collaboration seeks to strengthen the financing ecosystem for small businesses, promote inclusive growth and contribute to India’s vision of building a self-reliant economy.

The memorandum of understanding (MoU) was signed by Mr. Dhrubashish Bhattacharya, Head – MSME Banking & Co-lending, Bank of Baroda, and Dr. Subhransu Sekhar Acharya, Chairman-cum-Managing Director, NSIC, during the MSME Marketing Conclave organised by NSIC in Bengaluru on October 10, 2025.

The event was graced by Sushri Shobha Karandlaje, Minister of State for MSME, Shri Ateesh Kumar Singh, Joint Secretary – AFI, Ministry of MSME, and Shri Ninganna S. Biradar, Vice-President, Karnataka Small Scale Industries Corporation (KASSIA).

The MSME sector, contributing around 30.1 per cent to India’s GDP, plays a crucial role in driving employment and industrial output. Recognising this, the partnership aims to streamline the loan delivery process, enabling small enterprises to access timely finance for working capital needs, capacity expansion and technology upgrades.

With Bank of Baroda’s extensive network and a suite of MSME-focused financial products, the tie-up is expected to benefit thousands of entrepreneurs, particularly in Tier-II and Tier-III cities.

“The collaboration with NSIC underscores our commitment to fostering MSME growth and supporting the government’s vision of Viksit Bharat,” the bank said in a statement.

The MoU marks a significant step towards creating a more resilient and inclusive MSME financing framework, strengthening India’s industrial base and supporting long-term economic sustainability.