|
The Government has launched a new Scheme on Performance and Credit Rating of Small Scale Industries. The basic objective of the Scheme is to sensitise the SSI Sector to the need for credit rating and encourage the SSI Units to maintain good financial track record, which would help them earn higher rating for their credit requirements when they approach the financial institutions for their working capital and investment requirements. One time Government Grant will be provided to the SSI Units availing of the benefits of this Scheme. Some of the broad features of the Scheme are as follows:
The rating by accredited Agencies will serve as a credible third party assessment of SSI Units’ capabilities and creditworthiness and generate better acceptance by Banks, Financial Institutions, SSI customers and buyers.
SSIs will be able to secure credit from Banks and Financial Institutions with comparative ease and at favourable interest rates.
Rating of the SSI Units would facilitate vendors/buyers in judging the capability/capacity of the SSI Units and deciding on finalisation of purchase contracts with them.
The Scheme will be implemented by the National Small Industries Corporation (NSIC) through its various Branches and Offices in the country.
Reputed rating agencies have already been empanelled by NSIC in consultation with IBA. These include CRISIL, ICRA, CARE, DNB, Fitch and ONICRA. The share of the Government (Ministry of SSI) towards the fee charged by the Rating Agencies will be as follows:
Annual Turnover of the SSI Unit Amount to be reimbursed by the Ministry
Upto Rs. 50 lakh
75% of the fee charged by the Rating Agency, subject to a ceiling of Rs.25,000
Above Rs.50 lakh and up to Rs.200 lakh
75% of the fee charged by the Rating Agency, subject to a ceiling of Rs.30,000
Above Rs.200 lakh
75% of the fee charged by the Rating Agency, subject to a ceiling of Rs.40,000
The Scheme was launched here today by the Finance Minister, Shri P.Chidambaram and the Union Minister of Small Scale Industries and Agro & Rural Industries, Shri Mahabir Prasad.
MG: PM
|
