Govt launches performance, credit rating scheme for MSMEs

A performance and credit rating scheme has been launched by the MSME Ministry to assess the capabilities and creditworthiness of the industries in the sector, Lok Sabha was informed today.
"The Ministry of MSME through National Small Industry Corporation Limited is implementing 'Performance and Credit Rating Scheme' for MSMEs to provide a trusted third party opinion on their capabilities and creditworthiness so as to create awareness about the strengths and weaknesses of their existing operations," Minister for Micro, Small and Medium Enterprises Kalraj Mishra said during Question Hour.
Mishra said recently, 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 Minister said in order to ensure quality production, the government encouraged MSMEs by organising awareness programmes, providing financial assistance for product certification as per national and international standards.
"Under the 'Financial Support to MSMEs in ZED certification scheme', the MSMEs will be assessed on a Zero Defect Zero Effect maturity model which shall rate MSMEs in five levels," he said.