Budget 2024: Experts say new MSME credit assessment model, NPA shield strengthen small businesses

Quick Summary:

Public sector banks will take a lead in developing a new credit assessment model on the basis of digital footprints of MSMEs, the FM had said in the budget.

It acknowledges the challenges faced by MSMEs in maintaining liquidity and operational continuity during unforeseen economic disruptions or downturns.“The mechanism ensures that MSMEs can access the necessary credit to continue their operations and avoid slipping into the NPA stage.

PSBs will take the lead in developing a new credit assessment model on the basis of digital footprints of MSMEs.

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Article Details

Author / Journalist: Ashish Pandey

Category: Business

Markets: India

Topics: MSME Veefin solutions Budget 2024 PSBs Budget MSME credit assessment

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 14:18:29 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 1613 words

Reading Time: 9 minutes read

Sentences: 42 lines

Sentence Length: 39 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 21748282

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About Economic Times

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