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Our Bureau

Hyderabad, March 31

Small-scale industries registered with the National Small Industries Corporation (NSIC) are eligible for subsidy on the amount they spend on acquiring credit rating.

The NSIC has entered into a memorandum of understanding with the Union Government in this regard, Mr V. Arumugam, Senior Branch Manager of NSIC (Hyderabad), told the participants at an awareness programme held here on Friday.

Mr C.V. Rao, Deputy General Manager of Small Industries Development Bank of India, said credit rating would facilitate easy availability of finance to SSIs as it would reduce the risk for banks.

The programme was organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry in association with NSIC and ONICRA Credit Rating Agency of India Ltd, according to a release.

More Stories on : SSI | Credit Rating | Andhra Pradesh

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