New MSME credit assessment model for PSBs to launch by March end

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New MSME credit assessment model for PSBs to launch by March end - Business Standard

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Finance Minister Nirmala Sitharaman, in the Union Budget FY25, proposed that PSBs would develop their in-house capability to assess MSMEs for credit, moving away from external assessments.

The new MSME (micro, small, and medium enterprise) credit assessment model based on digital footprints for public sector banks (PSBs) is expected to be launched by March end next year, according to three sources directly familiar with the matter."Almost half of the work has been completed, and we are anticipating a launch by the end of this financial year," said a PSB official.