MOU
IIA Signs a MOU with CRISIL Ltd to Facilitate Credit Rating Among MSMEs
LUCKNOW: Indian Industries Association (IIA), a QCI, gold rated apex association of MSMEs (Micro Small and Medium Entreprises) has signed an MOU with CRISIL Limited, a reputed credit rating agency in order to facilitate credit rating among the MSMEs.
In the MOU signing ceremony held at IIA Bhawan, Lucknow, Manish Goel, President-IIA said that access to formal credit (from financial institutions such as banks) and lack of credibility have been major obstacles for long for MSMEs across India. "One way to overcome these drawbacks has been by getting a credit rating. The MOU signed between IIA and CRISIL will facilitate MSMEs to get credit rating easily and cost effectively", he said.
Salil Chaturvedi, director- CRISIL informed that Government of India offers subsidy to the MSME units for getting rated under the Performance and Credit Rating Scheme (PCRS). PCRS is administered by the National Small Industries Corporation (NSIC) under the aegis of Ministry of MSME, Government of India. Times of India
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