TransUnion CIBIL has collaborated with the Federation of Indian Chambers of Commerce and Industry (FICCI) to launch a unique nationwide MSME consumer education program that will uphold MSMEs in gaining awareness of credit management, CIBIL Rank and business credit information.
The program objective is to empower MSMEs with knowledge on how to build credit history and CIBIL Rank to avail easier and faster access to finance. This program will kick off with MSME clusters in Maharashtra, Assam, and Tripura and aims to reach thousands of MSMEs across key MSME clusters in India.
TransUnion CIBIL is focused on supporting banks and credit institutions in the sustainable growth of their MSME portfolios while further improving reach and driving access to funds for MSMEs.
As well as offering MSME lenders solutions like CIBIL Rank and business credit reports for astute lending, TransUnion CIBIL additionally distributes credit reports like the MSME Pulse in relationship with SIDBI and the new Emergency Credit Line Guarantee Scheme (ECLGS) insights report to help policymakers and the business with market insights of knowledge on the MSME sector.
CIBIL Rank allocates a position to the MSME in light of its record of credit history data on a size of 1-10, CIBIL Rank – 1 being the most ideal position, and CIBIL Rank – 10 being the riskiest rank.