Mumbai, Jan 24 (KNN) The Oriental Bank of Commerce (OBC) will offer concession on interest rates to micro, small and medium enterprises (MSMEs) with good CIBIL MSME Rank (CMR).

“Oriental Bank of Commerce is committed to driving access to finance for MSMEs while ensuring profitable growth of credit portfolios. By offering a lower rate of interest to our MSME customers who have a good credit history and CMR, we are rewarding good borrowers and promoting a disciplined credit culture along with ensuring healthy quality of our MSME portfolio,” said Mukesh Kumar Jain, Managing Director & Chief Executive Officer, Oriental Bank of Commerce.

The bank will offer up to 0.25 percent concession on interest rates to MSMEs with CMR1 to CMR3 and internal risk rating of OBC1 to OBC3.

CMR uses machine learning algorithms to predict the probability of an MSME becoming NPA in the next 12 months.

CMR provides a rank to the MSME based on its credit history data on a scale of 1 to 10, CMR 1 being the best possible rank for the least risky MSMEs and CMR 10 being the riskiest rank for MSMEs.

The lower the CMR, the lower the risk of NPA associated with the MSME.