: Tamilnad Mercantile Bank and the National Small Industries Corporation, set up under the Ministry of Micro, Small and Medium Enterprises, have signed a Memorandum of Understanding to tap "prospective entrepreneurs".
TMB, which has more than 40 per cent of its advances to the MSME segment,would offer credit facilities through the MoU withNSIC, a press release said.
NSIC would operate as a "single point facilitator" for prospective entrepreneurs under the arrangement.
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The release said that NSIC would operate as a single point facilitator, collect credit applications from prospective entrepreneurs and refer suitable candidates to the Bank in order to offer the credit facility.
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