Punjab National Bank signs MoU with Chamber of Indian Micro Small and Medium Enterprises (CIMSME)

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Punjab National Bank has entered into a tie-up arrangement with Chamber of Indian Micro, Small and Medium Enterprises (CIMSME) to facilitate advances to MSMEs. The MoU was signed by Sh. R K Vashishtha (General Manager) and Sh. Mukesh Mohan Gupta (President, CIMSME).

The signing ceremony was attended by Sh C R Das (DGM), Sh Sushil Kumar (AGM) and Sh.Subhash Joinwal (Director CIMSME, New Delhi) at our Corporate Office, Dwarka.

What is CIMSME?

Chamber of Indian Micro Small & Medium Enterprises (CIMSME) is an apex chamber of MSMEs registered under section 25 of The Companies Act, 1956 vide CIN U93000DL2011NPL223614 with the main objective to promote and protect the Trade, Commerce of Micro, Small and Medium Enterprises (MSMEs) of India and to serve India’s national, social and economic goals through increase in gainful employment, production of goods and services for domestic/ export market, raising living standards of rural/ urban population by promoting Micro, Small and Medium Enterprises.

CIMSME is a Non-profit organization which represents interest of enterprises, particularly in MSME sector, with Banks, Financial Institutions, concerned Ministries and other Stakeholders, to promote bilateral dialogue for the benefit of MSMEs.

Brief about Signed MoU

This MoU shall be valid for an initial period of Three years (3) from the date of its execution and thereafter shall be renewed further for a period of three years (3)

Features:-

  1. It is a lead sourcing arrangement, and proposals received under this tie-up will be considered on their merits.
  2. CIMSME will identify and recommend debt proposals for its members after carrying out basic financial due diligence.
  3. CIMSME will assist in completing the documents required for the bank loan facility.
  4. CIMSME shall collect and forward the loan application forms pertaining to MSMEs on a pan-India basis to the concerned branches of the bank.

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