HSIIDC signs MoU with Central Bank of India for financing industrial units

Excelsior Correspondent

JAMMU, May 16: To facilitate financing of industrial plots purchased by entrepreneurs and businesspersons, the Haryana State Industrial & Infrastructure Development Corporation Limited (HSIIDC) and Central Bank of India, signed a Memorandum of Understanding (MoU) here today.
The MoU was signed by Sushil Sarwan, Managing Director, HSIIDC and Arvind Kumar, Zonal Head, Central Bank of India (CBI).
Speaking on the occasion, Sushil Sarwan, Managing Director, HSIIDC said, “The MoU with Central Bank of India opens a new chapter in making funding for industrial units and plots more accessible, especially for MSMEs who play a vital role in strengthening the industrial landscape of Haryana and contributing to nation-building.”
“This initiative is expected to open new avenues for MSME financing in the manufacturing and services sectors, encouraging entrepreneurship and contributing to the region’s economic growth,” he added.
Arvind Kumar, Zonal Head, Central Bank of India, emphasized the importance of this partnership and said, “Our bank has introduced a special product, ‘Cent HSIIDC,’ aimed at promoting entrepreneurship under the MSME sector. We are proud to collaborate with HSIIDC in fostering a robust entrepreneurial ecosystem in Haryana. By sharing our financial and business development expertise, we are confident this initiative will empower young entrepreneurs to build sustainable enterprises.”
HSIIDC, a 100% Haryana Government-owned corporation established in 1967, serves as the state’s nodal agency for industrial infrastructure development. It has developed 30 industrial estates across Haryana, spanning over 30,000 acres, which have become vibrant centers of industrial and commercial activity.
Central Bank of India, one of the country’s oldest and most trusted public sector banks, remains committed to serving all segments of society with a focus on inclusive growth.
Through this MoU, the Bank reaffirms its dedication to economic empowerment by ensuring timely and accessible credit to grassroots enterprises.
This collaboration aims to provide a strong foundation for the Micro, Small & Medium Enterprises (MSME) sector in Haryana by ensuring easier access to finance for HSIIDC plot allottees and expediting the establishment of their enterprises.

The post HSIIDC signs MoU with Central Bank of India for financing industrial units appeared first on Daily Excelsior.

News