MONEYLIFEJan 14, 2022MSMEs' Credit Rating Is Set for a Model ChangeIn the recent Cabinet reshuffle, new Union minister Narayan Rane for the micro, small and medium enterprises (MSMEs) took charge.Coming from the MSME-intensive state like Maharashtra, the sector has a lot to look up to from him.The first challenge today is enhancing the institutional share of credit to the sector to at least 50% from just 23% MSME units.The second challenge is, developing a public credit registry to provide dependence on secured data as the base for lending, replacing collateral and guarantees.A few days before departing, his predecessor had announced that the sector will be provided with a credit rating tool.Read more at MONEYLIFE
In the recent Cabinet reshuffle, new Union minister Narayan Rane for the micro, small and medium enterprises (MSMEs) took charge.Coming from the MSME-intensive state like Maharashtra, the sector has a lot to look up to from him.The first challenge today is enhancing the institutional share of credit to the sector to at least 50% from just 23% MSME units.The second challenge is, developing a public credit registry to provide dependence on secured data as the base for lending, replacing collateral and guarantees.A few days before departing, his predecessor had announced that the sector will be provided with a credit rating tool.Read more at MONEYLIFE
