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SIDBI’s Subhransu Sekhar Acharya assumes charge as CMD of National Small Industries Corporation

Former Chief General Manager of Small Industries Development Bank of India (SIDBI) Subhransu Sekhar Acharya has taken over the charge of Chairman- cum- Managing Director (CMD) of The National Small Industries Corporation (NSIC) under the MSME Ministry, according to a statement by NSIC. 

Acharya has over three decades of experience in different areas of MSME financing and development including credit, SME rating, risk management, bills financing, new product development, business planning, entrepreneurship development, innovation financing, micro-finance, start-up mentoring etc.  

He was a British Chevening scholar and studied ‘Sustainable Development’ at the University of Bradford, UK. Acharya was also a founding member of India’s first SME Rating Agency and has served as CEO of India SME Technology Services, a company promoted by SIDBI and 4 other commercial banks. 

Acharya had joined SIDBI back in 1992 and became Chief General Manager in September 2022, according to his LinkedIn profile. 

He replaces Vipul Goel, Joint Secretary (Agro and Rural Industry division) at the Ministry of MSME who assumed charge as CMD of NSIC in July 2023. 

NSIC works towards the growth of the MSME sector in India through its countrywide network of offices and technical centres. It operates multiple schemes for MSMEs around credit facilitation, raw material assistance, digital marketing services, participation in exhibitions, skill development and more. 

It also runs a B2B e-commerce marketing platform MSME Global Mart for MSMEs, offering global trade leads, tender information, franchise opportunities, data on used machineries, etc.

Minister of State in the commerce ministry Som Parkash in a written reply to a question in the Rajya Sabha in December last year had said that the government’s open e-commerce network ONDC is actively working with the MSME ministry to onboard MSMEs to the network through existing seller applications and also working to integrate MSME-Mart which has over 2 lakh MSMEs. 

NSIC also has a venture capital fund called NSIC Venture Capital Fund which is the mother fund in the Rs 50,000 crore Self Reliant India (SRI) fund by the MSME Ministry and State Bank of India’s private equity arm SBICAP Ventures. The fund operates through a mother-fund and daughter-fund structure for equity or quasi-equity investments.