The Ministry of Micro, Small and Medium enterprises has revised guidelines on the Performance and Credit Rating Scheme implemented through the National Small Industries Corporation. CRISIL believes the new guidelines will increase the usage and acceptance of credit ratings across micro and small enterprises.
The guidelines now recommend evaluation of MSEs on three parameters – operating performance, financial strength and creditworthiness. CRISIL has assigned over 91,000 MSME ratings till date and the product has been a huge success.
Source: CRISIL press release