Did NSIC Really Pay Rs 43.89 Crore Dividend to the Government of India for FY 2024-25?
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Synopsis
In a significant move, the NSIC has declared a dividend of Rs 43.89 crore to the Government of India for FY 2024-25. This step underscores the corporation's commitment to enhancing MSME support and aligns with national economic initiatives. Read on to explore more about this development and its implications for local businesses.
Key Takeaways
- NSIC has paid a dividend of Rs 43.89 crore to the Government of India.
- Union Minister Jitan Ram Manjhi praised NSIC's efforts in supporting MSMEs.
- NSIC reported a revenue of Rs 3,431 crore.
- Partnerships with banks aim to facilitate MSME credit.
- Aligns with Prime Minister Modi's 'Vocal for Local' initiative.
New Delhi, Oct 28 (NationPress) The National Small Industries Corporation Limited (NSIC), classified as a Mini Ratna enterprise under the Ministry of MSME, announced on Tuesday that it has disbursed a dividend of Rs 43.89 crore to the Government of India for the financial year 2024-25.
Union Minister of MSME, Jitan Ram Manjhi, along with Sushri Shobha Karandlaje, Minister of State in the same ministry, were present to receive the dividend check from Subhransu Sekhar Acharya, CMD of NSIC.
The Union Minister commended NSIC’s initiatives aimed at empowering MSMEs through comprehensive support services. Both leaders assured that NSIC would continue to be a catalyst in fostering enterprise creation and enhancing skill development.
Dr. Acharya also emphasized NSIC’s financial achievements, noting a revenue of Rs 3,431 crore and a Profit After Tax (PAT) of Rs 146.30 crore, reflecting a growth of 15.60 percent compared to the previous year.
Recently, NSIC entered into Memorandums of Understanding (MOU) with several private sector banks to boost credit availability for MSMEs through its MSME Credit facilitation programme.
As per an official statement, these MOUs aim to enhance the affordability and accessibility of credit for MSMEs.
Agreements were signed with IndusInd Bank, Karnataka Bank, Axis Bank, Dhanlaxmi Bank, and AU Small Finance Bank.
On this occasion, Union MSME Minister Jitan Ram Manjhi and MSME Secretary S.C.L. Das were also in attendance. The MoUs were exchanged between NSIC's Director of Finance, Gaurav Gulati, and senior officials from the respective banks,” the release stated.
This collaboration aims to assist MSMEs in integrating with the formal financial ecosystem, providing them with the necessary support. The MOU is expected to be a significant enabler in the banks’ efforts to reach out to deserving micro and small enterprises.
This initiative aligns with Prime Minister Narendra Modi's recent advocacy for the 'Vocal for Local' movement, which encourages businesses and citizens to prioritize locally manufactured goods, aiming to bolster domestic production, create jobs, and enhance the local economy.
Point of View
I firmly believe that NSIC's recent dividend payment and its ongoing partnerships with financial institutions represent a significant step forward in supporting India's MSME sector. This initiative not only enhances the financial ecosystem for small businesses but also aligns with the government's broader economic goals. It is crucial for the nation to invest in local enterprises to stimulate growth and job creation, ensuring a vibrant economy for all.
NationPress
22/12/2025
Frequently Asked Questions
What is the dividend amount paid by NSIC?
NSIC paid a dividend of Rs 43.89 crore to the Government of India for FY 2024-25.
Who received the dividend check?
The dividend check was received by Union Minister of MSME Jitan Ram Manjhi and Minister of State Sushri Shobha Karandlaje.
What are the financial highlights mentioned by NSIC?
NSIC reported a revenue of Rs 3,431 crore and a Profit After Tax of Rs 146.30 crore, which is a growth of 15.60 percent from the previous year.
Which banks did NSIC sign MOUs with?
NSIC signed MOUs with IndusInd Bank, Karnataka Bank, Axis Bank, Dhanlaxmi Bank, and AU Small Finance Bank.
What is the purpose of the MOUs signed by NSIC?
The MOUs aim to enhance credit availability, affordability, and accessibility for MSMEs.
