NSIC Loan Applications for MSMEs to Ease with Rubique’s New Online Platform

Rubique, an online marketplace for financial products for micro, small and medium enterprises (SMEs), signed an MoU with the National Small Industries Corporation (NSIC) on Tuesday, for providing easy credit facilities. 

NSIC, a miniratna enterprise under the Ministry of Micro, Small and Medium Enterprises, will provide SMEs registered with them, easy credit access via the Rubique platform. "The tie-up between NSIC-Rubique will bring in the technology interface, by way of the online platform to strengthen NSIC's endeavour to give credit access and support MSMEs in their growth," said Ravindra Nath, NSIC.

He said that NSIC has already tied up arrangements with 33 public and private sector banks, and financial institutions. "Besides easy access to credit, this tie-up will help MSMEs save their time and without any additional cost. It would help us improve their competitiveness in the country," he adds.

Rubique CEO and Founder Manavjeet Singh said the company's matchmaking algorithm would bring more certainty in the process of getting financial help.

"We can check the qualification of the application by matching borrowers eligibility with financial institutions' lending criteria on the website itself. Rubique has tied up with 60-plus financial institutions," he said.

The Mumbai-based company offers a range of financial products and services including personal, car, home and business loan among other services.