New Delhi, March 6 -- The government on Thursday launched the New Credit Assessment Model based on the scoring of digital footprints of MSMEs wherein the Public sector banks (PSBs) will build their in-house capability to assess MSMEs for credit, instead of relying on external assessment.
Launching the model at Vishakhapatnam, the Union Finance and Corporate Affairs Minister, Nirmala Sitharaman and Minister of State, Finance Pankaj Chaudhary said PSBs will develop a new credit assessment model, as announced in the Budget, based on the scoring of digital footprints of MSMEs in the economy.
This credit assessment model will leverage the digitally fetched and verifiable data available in the ecosystem and devise automated journeys for MSME Lo...