Union MSME Minister Kalraj Mishra addressed a post-Budget press conference on March 08, 2016 in New Delhi and announced an all-time high budget of Rs. 200 crore for Performance and Credit Rating Scheme for financial year 2016-17. The allocation would enable units to be ready for accessing credit.…
Tag: ONICRA
Varun Mirchandani, ONICRA ED | Budget well balanced, focuses on SMEs
With an estimate over 57.7 million, Indian MSMEs contribute 8% to the total Gross Domestic Product (GDP) and account for 40% of the total Indian exports. MSMEs lead to entrepreneurial development and diversification of the industrial sector. Budget 2016 has tried to, and has, well-balanced the ec…
If India has to grow, we need to have strong SME rating fundamentals | Varun Mirchandani, ED, ONICRA
Rating of SMEs has worked wonders in getting bank loans and there are empirical evidence to suggest ratings have changed thousands of SMEs into vibrant enterprises with commercial banks coming forward to provide them loans hand-hold them during difficulties. Rating agency ONICRA Executive Directo…
Get rated to be banked | Varun Mirchandani, Executive Director, Onicra
“55% of registered MSMEs can tap into Rupees 5,50,00 crore fund post rating” More than half of India’s unbanked registered Small and Medium Enterprises can avail of first time credit should they get themselves rated, said Varun Mirchandani, Executive Director, Onicra Credit Rating, one of India’s…