New Delhi, Dec 22 (KNN) The Performance & Credit Rating Scheme is being implemented by the MSME Ministry with an objective to provide a third party opinion on the creditworthiness and capabilities of the MSEs.

The Ministry of Micro, Small and Medium Enterprises has not introduced any grading system for MSMEs in the country, Minister of State, Micro, Small and Medium Enterprises, Giriraj Singh said this in a written reply to a question in Lok Sabha.

However, the Ministry is implementing Performance & Credit Rating Scheme through the National Small Industries Corporation (NSIC) Limited.

“The main objective of the scheme is to provide a trusted third party opinion on the capabilities and creditworthiness of the MSEs so as to create awareness amongst the strengths and weakness of their existing operations,” he said.

Rating under the scheme is being carried out through empanelled rating agencies i.e. CRISIL, CARE, ONICRA, SMERA, ICRA and Brickwork India Ratings. (KNN Bureau)