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.
Who can apply?
Any manufacturing MSME having Udyog Aadhaar Memorandum (UAM) can apply for the assistance under the Scheme.
Benefits:
1. Materials facilitated under Bulk supplies arrangements are provided at bulk supplier’s rate by eliminating the middlemen.
2. Discounts received under bulk supplies arrangements are shared with MSMEs, enabling them to reduce cost of purchase of materials.
3. Availability of raw material on credit for upto 180 days and enabling MSMEs to execute the orders in hand. However, it can further be extended on the request of MSME provided the unit serves interest.
How to apply?
1. Duly filled application form is to be submitted along with the following documents-
(i) Self attested copy of UAM, GST registration certificate, PAN card of the firm and latest ITR of the company.
(ii) Self-attested statement of personal assets and liabilities along with the residential address of Proprietor/Directors/Partners.
(iii) 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.
(iv) Specimen signatures of authorized signatory attested by bank.
(v) Copy of sanction letter for credit limit sanctioned by the FIs/ banks.
(vi) An undertaking from the borrower that their name(s) are not appearing in the RBI Defaulter’s List.
2. Preliminary appraisal and Unit inspection is carried out by NSIC.
3. Sanction of Limit to the eligible Unit.
4. Signing of agreement between NSIC and Unit.
5. Disbursement of assistance to the unit.
Add Your Comments