Scheme by NSIC for Raw Material Assistance for Your Business : Jammu & Kashmir

Launched In: N/A

Headed By: National Small Industries Corporation (NSIC)

Industry Applicable: Sector-agnostic

Eligibility: MSMEs registered in India are eligible to apply under this scheme.

Overview: This startup scheme aims at helping MSMEs by way of financing the purchase of raw material (both indigenous & imported), thereby giving an opportunity to MSMEs to focus on manufacturing quality products.

Fiscal Incentives: Under this scheme by the Indian government, MSMEs will be helped to avail economics of purchases like bulk purchase, cash discount, etc. Also, all the procedures, documentation and issue of letter of credit in case of imports will be taken care of. Security will be in the form of Bank Guarantee from Approved/Nationalised Banks.

Time Period: MSMEs will get financial assistance for procurement of raw material up to 90 days. In case outstanding dues are cleared within 270 days, micro enterprises will bear 9.5%- 10.5% interest while small and medium enterprises will have to pay 10% to 11% interest.

To know more about this startup scheme by the Indian Government, click here.

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