FISME-World Bank holds training program on Credit information reporting for MSMEs
In an attempt to impart knowledge among the Micro, Small and Medium Enterprises with regard to credit reporting and rating, Federation of Indian Micro and Small & Medium Enterprises (FISME) along with the Engineering Export Promotion Council (EEPC ) and World Bank group held a workshop cum training program in the national capital for MSMEs.
The prime focus of the program was to equip the MSME sector with the nuances for strengthening the prospects of obtaining credit.
Mukesh Kalra, Joint Secretary, FISME welcomed the gathering informing the participating MSMEs of the agenda of the event. Kalra informed that FISME in association with World Bank have been engaged in similar programs across sectors.
The day’s event is being conducted with specific target to explore the complications of the auto sector MSMEs, Kalra said
Aushotosh Tandon, Financial Sector Specialist, Finance & Markets World Bank Group highlighted the common pattern of problems that the MSME sector has been facing with regard to credit reporting.
Tandon said that the World Bank group has been actively engaged with both EEPC and FISME to address the different credit related concerns.
He also informed that there is a lack of understanding among the MSMEs when it comes to credit rating and credit reporting, that needs to be addressed through training programs and sessions.
Also Satish Mehta founder of an independent management and financial services consultancy firm and also a consultant with the World Bank Group, during one of the sessions informed of the importance of credit bureaus.
The training program also deliberated upon exploring alternate data information so that the MSMEs can avail credit on the basis of other parameters that offers a better picture of the MSME and not just a snapshot of it.
Also with regard to the implementation of the GST, the training program focussed on possibility of the GST data in applying for credit.
A dedicated question answer session was also a part of the program alongside thematic sessions. (KNN/DA)