New Delhi, Feb 18 (KNN) TransUnion CIBIL and the Federation of Indian Chambers of Commerce & Industry (FICCI) have joined hands to spread nationwide awareness amongst MSMEs about credit management, CIBIL Rank and commercial credit information through consumer education program.

This program will first start with the MSME clusters in states of Maharashtra, Assam and Tripura.

On the announcement of this partnership, Harshala Chandorkar, Chief Operating Officer, TransUnion CIBIL said, “Through this program we aim to drive even greater awareness amongst MSMEs and empower them to build their CIBIL Rank for accessing faster and affordable financial opportunities.”

He called MSME sector as the backbone of India’s economy and said that it can act as a catalyst for growth.

Further, Jyoti Vij, Deputy Secretary General, FICCI highlighted the lack of financial awareness as one of the key challenges roadblocks for MSME development.

“By driving credit awareness amongst MSMEs, we aim to contribute to the government’s endeavours on the resurgence of the MSME sector,” Vij added.

CIBIL Rank assigns a rank to the MSME based on its credit history data on a scale of 1-10.

TransUnion CIBIL has also partnered with SIDBI and publishes reports like the MSME Pulse.

Its recent report was an analysis on Emergency Credit Line Guarantee Scheme (ECLGS) to provide policymakers and the industry with a comprehensive view of the market on the MSME sector. (KNN Bureau)