Government launches credit rating scheme for MSMEs

The Ministry of Micro, Small and Medium Enterprises has launched a performance and credit rating scheme to assess the capabilities and creditworthiness of industries in the sector. The ‘Performance and Credit Rating Scheme’ will provide “trusted” third party opinion to create awareness about the strengths and weaknesses of enterprises’ existing operations.

As per officials, a new scheme of Financial Support to MSMEs in Zero Defect Zero Effect Certification has been approved in which the MSMEs will be assessed on ZED Maturity Model on 50 parameters which will strengthen or facilitate the Make in India initiative. The government has also encouraged MSMEs by organising awareness programmes, providing financial assistance for product certification as per national and international standards to ensure quality production.

So let’s discuss some questions related to this post:
1. The government has launched a performance and credit rating scheme for which segments?
Courtesy: Business Standard

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