National Small Industries Corporation (Ministry of Micro, Small and Medium Enterprises)
Raw Material Assistance Scheme aims at helping MSMEs by way of financing the purchase of Raw Material (both indigenous & imported). This gives an opportunity to MSMEs to focus better on manufacturing quality products.
Scheme Benefits & Highlights
The following benefits are provided under the scheme:
- Financial assistance (Credit) for procurement of raw material up to 90 days.
- Materials facilitated under Bulk supplies arrangements are provided at bulk supplier’s rate by eliminating the middlemen and thus goods are procurred at a lower price.
- Discounts received under bulk supplies arrangements are shared with MSMEs, enabling them to reduce cost of purchase of materials (Economies of Scale).
- Availability of raw material on credit and enabling MSMEs to execute the orders in hand.
Any manufacturing MSME having Udyog Aadhaar Memorandum (UAM) can apply for the assistance under the Scheme.
More details can be found at: http://www.nsic.co.in/pdfs/FAQ_RMA_102016.pdfRegistration Process
The The Entrepreneurs and any MSME needs raw material through NSIC may apply to any of the NSIC field office for Raw Material Assistance in the prescribed application forms, which can be downloaded from NSIC’s web site (www.nsic.co.in) or may be obtained free of cost from any of the field offices. The duly filled in application form along with prescribed documents can be submitted with the nearest branch office of NSIC. Details of NSIC offices are available on www.nsic.co.in.
More details can be found at: http://www.nsic.co.in/pdfs/FAQ_RMA_102016.pdfDocuments to be enclosed with
- A passport size photograph of each of the Proprietor / Directors / Partners / Society office bearers.
- Self-attested photocopy of :
- GST Registration Certificate ,
- PAN Card of the Firm / Proprietor (in case of Proprietorship concern).
- Copy of latest ITR of the Company/Firm /Directors/Partners/Proprietor
- Self-attested statement of personal assets and liabilities along with the residential address of Proprietor/Directors/Partners/Society office bearers.
- Copy of Memorandum & Articles of Association along with list of Directors in case of Pvt. Ltd. / Ltd. Co.
Copy of Partnership Deed duly notarized in case of Partnership concern.
A copy of Bye Laws & charter of society along with a list of governing body / executive members in case of society.
- A copy of Board Resolution in case of Pvt./Public Ltd. Co., Power of Attorney in case of partnership firm & a Governing Body Resolution in case of Society authorizing the signatory to sign and to deal with NSIC in respect of financial assistance required, for and on behalf of the applicant unit.
- Specimen signatures of authorized signatory attested by bank.
- Copy of sanction letter for credit limit sanctioned by the FIs/ banks.
- Audited/Provisional financial statements of the unit:
- Last year Audited financial statements.
- Provisional current year financial statements.
- For startup MSME unit- Current year estimates financial statements duly certified by its Auditors or Chartered accountants
- Bank statement of the unit for the last six months.
- Copy of the latest Electricity Bill.
- Conduct Report of Account of the unit with Banks (Other than BG issuing Bank) and Financial Institutions
- Certificate / Undertaking from the borrower that their name(s), name of the company/its owners/its associates /its sister concern/its members in any way fall in the list of CIBIL/ RBI Defaulters list or any sort of case is there against them.
- Copy of orders in hand, in case of enhancement of limit beyond five crore
More details about Documents needed after Sanctioning of limit and before disbursement: http://www.nsic.co.in/Schemes/Raw-Material-Against-BG.aspx