PLS. IGNORE IF YOU ARE NOT AN REGD SSI UNIT
Dear Sir,
NSIC–ONICRA PERFORMANCE AND CREDIT RATING SCHEME for SMALL SCALE INDUSTRIES (SSI) is a Government of India initiative with NATIONAL SMALL INDUSTRIES CORPORATION LTD (NSIC) appointed as the nodal agency for the implementation of the scheme.
OBJECTIVE OF THE SCHEME
· To enhance the acceptability of SSI units with Banks & Financial institutions & Buyers.
· To meet the opportunities & challenges in the changing Global economic scenario.
SCHEME FEATURES
- Govt. Of India Scheme.
- Approved By Indian Banks Association (IBA).
- 75 % Subsidy on the Rating Fee by Ministry of SSI.
- A combination of credit and performance factors including operations, finance, business and management.
- Turnover based Fee structure
- An independent, trusted third party opinion on capabilities and credit-worthiness of SSIs
BENEFITS TO SSI
· Re-calibration of Interest Rates by Banks.
· Waiver of Collateral.
· Recognition in global trade
· Prompt sanctions of Credit from Banks and Financial Institutions
· Facilitate vendors/buyers in capability and capacity assessment of SSIs
· Enable SSIs to ascertain the strengths and weaknesses of their existing operations and take corrective measures.
· Privilege benefits as per policy
OTHER STATUTORY REASONS
· RBI Proposes to Increase Risk Weightage on all unrated Loans to 150%from 100% (EconomicTimes:12 April, 2007)
· BaselII norms require banks to assign risk Weightage based on the credit rating of the borrower. (EconomicTimes:18 April, 2007)
· Nationalized banks like Bank of India, OBC, Central Bank of India, PNB, Bank of Maharashtra, State bank of Mysore, UCO Bank, Union Bank of India and many more are reducing rates of interest based on the rating
LONG TERM BENEFITS TO SSI
- HEALTH CHECK AT SUBSIDIZED RATES CREATING AWARENESS on strength and weakness and take corrective measures.
I believe that the NSIC Performance and Credit Rating can be the foundation for the mission of Madhya Pradesh's prosperity leading to the creation of Madhya Pradesh as a great State.
We are very much interested to listen from you to avail this opportunity extended to the entrepreneurs of Madhya Pradesh for success in their mission of transforming their State into a developed State by 2016.
Please let us know how we can work together closely to educate the industries to get maximum benefit of the scheme.
Thanking You
VITAL CERTIFICATIONS AND BENCHMARKINGS
