Financial ExpressAug 5, 2022"FE Exclusive: SIDBI to launch a CIBIL-like score for MSMEs"Small Industries Development Bank of India (SIDBI), the principal financial institution for MSME sector, will launch a new credit risk ranking for MSMEs to enable banks take faster decisions to lend to small businesses.The new product, developed along with credit information company TransUnion CIBIL and digital lending platform for MSMEs Online PSB Loans (OPL), will give a Fit Score based on the credit risk associated with the MSMEs. On the difference from the existing MSME rankings, a SIDBI official who spoke on the condition of anonymity, confirmed that the new rating is being developed on the back of GST data, ITR returns (which is a proxy for balance sheet and P&L) and current bank account details.Read more at Financial Express
Small Industries Development Bank of India (SIDBI), the principal financial institution for MSME sector, will launch a new credit risk ranking for MSMEs to enable banks take faster decisions to lend to small businesses.The new product, developed along with credit information company TransUnion CIBIL and digital lending platform for MSMEs Online PSB Loans (OPL), will give a Fit Score based on the credit risk associated with the MSMEs. On the difference from the existing MSME rankings, a SIDBI official who spoke on the condition of anonymity, confirmed that the new rating is being developed on the back of GST data, ITR returns (which is a proxy for balance sheet and P&L) and current bank account details.Read more at Financial Express
