NSIC Raw Material Assistance Scheme NSIC RMA
NSIC finances an MSME's purchase of raw material, Indian or imported, and gives up to 180 days to repay, backed by a bank guarantee.
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- Cost to apply
- The application form is free. NSIC charges interest and a processing fee on new sanctions and renewals, at its current published rates.
- Status
- Open
- Run by
- National Small Industries Corporation, Ministry of MSME
What you get
- Finance for raw material, Indian or imported, for up to 180 days
- Helps a small unit buy in bulk and get cash discounts
- Lower charges for units with a good SME rating
Who can apply
- Businesses that are already running.
- Open to businesses in manufacturing and food processing.
- Micro, small and medium enterprises.
- Security is a bank guarantee from an approved bank
- Amounts not repaid within 180 days attract a penal charge on top of normal interest
- The concessional rate applies only if NSIC's dues are repaid on time
How to apply
- Submit the application form to the NSIC branch
- NSIC appraises the proposal and inspects the unit
- NSIC sanctions a limit and signs an agreement with the unit
- Funds are released for raw material purchases and repaid within 180 days
In person, Download the form or collect it free at an NSIC branch, and submit it to the nearest branch
In Kerala, NSIC Branch Office, Kochi, the only NSIC branch in Kerala (see the nsic-kochi record)
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.