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A scheme for Performance and Credit Rating Mechanism for SSIs has been formulated by the Government of India in consultation with Indian Banks’ Association (IBA) and various Rating Agencies. The National Small Industries Corporation (NSIC) has been appointed the nodal agency for implementation of this scheme. Under the scheme, the NSIC provides subsidy in the rating fees to the units obtaining credit ratings from the following agencies which are empanelled by them:
SSIs have the liberty to choose among the empanelled Rating Agencies. The schedule of fee reimbursement by NSIC is as under:
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Turn Over of SSI in Rs Lacs
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Reimbursement of Fee through NSIC
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Upto Rs 50 Lacs
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75% of the fee or Rs 25000/-
(Whichever is less)
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Rs 50 to 200 lacs
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75% of the fee or Rs 30000/- (Whichever is less)
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More than Rs 200 lacs
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75% of the fee or Rs 40000/- (Whichever is less)
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The rating services of all rating agencies empanelled with the NSIC shall be availed in respect of units in manufacturing/services sector and concessions as stated hereunder will be extended to such units rated :-
- Concessions in the applicable Rate of Interest to the extent of 0.50% in respect of units obtaining the Highest & 2nd Highest ratings and to the extent of 0.25% in respect of units obtaining the 3rd Highest rating.
- Subsidy to the extent of 50% of the rating fees - to all our SME borrowers with limits upto Rs. 50 lacs irrespective of the rating assigned – wherever the benefits of NSIC Subsidy are not available (such as non-SSI units, units not in possession of SSI Registration Certificates)
It is to be noted importantly that we are adopting the ratings assigned by the external rating agencies for the purpose of pricing only and not as a substitute for Bank’s internal Credit Rating exercise.
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