Performance and credit rating scheme launched by MSME Ministry
Q. A performance and credit rating scheme has been launched by the MSME Ministry to assess creditworthiness and capabilities of industries in the sector. What is it called?- Published on 02 Aug 16
a. Performance and Credit Rating Scheme
b. Zero Defect Zero Effect Certification
c. Performance and Economy Rating Scheme
d. None of the above
ANSWER: Performance and Credit Rating Scheme
A performance and credit rating scheme has been launched by the MSME industry to assess credit worthiness and capabilities of industries in the sector.
- Ministry of MSME through the National Small Industry Corporation Limited is implementing the Performance and Credit Rating Scheme for MSMEs to provide trusted third party opinion on capabilities and creditworthiness to create awareness about strengths and weaknesses of existing operations.
- A new scheme of Financial Support to MSMEs in Zero Defect Zero Effect Certification had been approved in which the MSMEs will be assessed on ZED Maturity Model on 50 parameters to strengthen or facilitate the Make in India initiative.
- To ensure quality production, government is encouraging MSMEs by organising awareness programmes, providing financial assistance for product certification as per international and national standards.
- Under Financial Support to MSMEs in ZED certification scheme, MSMEs will be assessed on Zero Defect Zero Effect maturity model to raise MSMEs in 5 levels.