Govt revises norms of Performance in Credit Rating Scheme – Feedback

Government approved the revision in guidelines of the Performance in Credit Rating Scheme, aiming to increase its credibility and effectiveness for both borrowers and banks.

Under the revised guidelines, the fee to be paid to the rating agencies shall be based on the turnover of the micro and small enterprises which has been categorised into three slabs. For turnover up to Rs 50 lakh, the fee to be reimbursed by the MSME Ministry will constitute 75 per cent of the fee charged by the rating agency subject to a ceiling Rs 15,000. For turnover between Rs 50 lakh and 2 crore, the fee to be reimbursed will be 75 per cent of the fee charged by the rating agency subject to a ceiling of Rs 30,000. Similarly, for micro and small enterprises having turnover above Rs 2 crore, the fee to be reimbursed will be 75 per cent of the fee charged by the rating agency subject to a ceiling of Rs 40,000.

http://www.business-standard.com/article/pti-stories/govt-revises-norms-of-performance-in-credit-rating-scheme-116052401643_1.html

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