National Small Industries Corporation (NSIC)

[vc_row][vc_column][vc_column_text]The National Small Industries Corporation (NSIC) is run by the Ministry of Micro, Small and Medium Enterprises (MSME) in order to nurture small and medium industries across the country. Businesses with investments more than INR ten lakh, but not exceeding INR five crore are categorised under small industries.
In an ongoing bank guarantees case, the National Small Industries Corporation (NSIC) has accused UBI of giving factually incorrect statements and not releasing over INR 173 crores in lieu of bank guarantees. In a written correspondence, the company secretary of NSIC rejected the clarifications issue by her counterpart in the UBI as incorrect.

In the lead up to the elections in Karnataka, all the three prominent parties made offers to the startups, such as those mentioned below:

• Benefits to Micro, Medium and Small Units (MSMEs) that would continue for three years even
  after they become large scale enterprises
• Setting up 15 MSME development centres to serve as incubators an MSME-cluster-based it is for
  skill development
• An amount of INR 500 crore “Sanna Vyapari Kalyana Nidhi” to grant interest-free loans for
  upgrading technology, working capital, better market access
  
  In addition to the above, the manifestos promised to make Bengaluru a garbage-free city, extend Bengaluru Metro to all suburbs, and also steps to ensure women’s safety in Bengaluru. However, the election results indicated a hung assembly with no party crossing the simple majority mark. Thus, a new government in Karnataka is yet to be formed. Elections for two more constituencies are scheduled to be
  held next week.

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