NSIC exhorts SSIs to go for credit rating

Hyderabad, Oct 7 (UNI) The National Small Industries Corporation today urged small-scale units to go for Credit Rating as many opportunities had opened up across the globe.

The SSI units should upgrade competence in terms of technology, management and financial strength and obtain credit rating to meet global competition, NSIC Senior Branch Manager V Arumugam said while participating in an awareness programme on 'credit rating of SSI Sector' organised jointly by the NSIC, Federation of Andhra Prdesh Chambers of Commerce and Industry and SME Rating Agency of India Ltd.

Good rating would enhance SSI acceptability in the market and make access to credit quicker and cheaper, he said, adding, the SSI rating scheme was formed in consultation with stakeholders like Indian Banks Association and Small Industries Association.

Ratings would serve as a trusted third party opinion on SSI units' capabilities and credit-worthiness, as an independent evaluation by an accredited third party would have better acceptance from banks and financial institutions, FAPCCI President Sudhir Sanghi said.

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