Merchants' Chamber (IMC) organised a seminar in Mumbai today,
on CRISIL's recetly intrroduced rating service for small
and medium enterprise rating. The seminar was attended by
close to 100 small and medium enterprises (SMEs) where the
concept, merits and benefits of rating for SMEs and SSIs.
has extended its group incentive scheme to the members
of IMC. CRISIL has also signed MoUs with several banks,
including SBI, to rate their SSI customers.
to Roopa Kudva, executive director and chief rating officer,
CRISIL, "The sector has a lot to gain from third
party ratings; the benefits of rating go far beyond obtaining
bank loans at lower interest rates. Rated entities benefit
from learnings from interaction with professional analysts,
peer group comparison, and a better appreciation of their
strengths and weaknesses. By acting on these inputs, an
entity can achieve more orderly growth".
central government has implemented a number of policy
measures for SMEs and promotes credit ratings for them
to encourage more scientific pricing of loans by linking
loan pricing to credit ratings.
has two rating products dedicated to the SME sector
CRISIL SME Ratings for SMEs, and NSIC-CRISIL Performance
and Credit Rating for SSIs. Under the NSIC-CRISIL
Scheme, National Small Industries Corporation (NSIC) provides
a 75 per cent subsidy to SSI units which get themselves
rated by CRISIL.