The new credit assessment model for micro, small and medium enterprises (MSMEs), based on digital footprints of state-owned banks, is expected to be launched by the end of March next year, according to three sources directly familiar with the matter.
“Almost half of the work has been completed and we expect a launch by the end of this financial year (2024-25/FY25),” a PSB official said.
Finance Minister Nirmala Sitharaman in the Union Budget FY25 proposed that PSBs develop internal capabilities to assess SMEs for credit and move away from external assessments. She also indicated that PSBs would take the lead