NSIC & ONICRA Performance and Credit Rating Scheme for Small Scale Industries

Onicra Credit Rating Agency of India Limited, incorporated in 1993, is an established player of Performance and Credit Rating in the Indian market.

It is the first company to launch commercial services and provide individual credit rating and reporting services to the Indian market. We have been delivering objective and reliable pre and post disbursement credit validation and information on credit takers and have been successfully doing the employee screening for a wide gamut of requirements. We provide spectrum of services like SSI/ SME Performance & Credit Rating, Associate Rating, Employee Background Screening, Customer Point Verification, Banking information services, etc.

Currently we cater to clients in major business segments such as Telecom, Banking, Automotive, Consumer Finance, IT and other Services Industries, We have a nation wide infrastructure to meet the ever-growing needs of our customers with 147 interconnected offices covering 4oo locations. We are empanelled by the likes of NASSCOM / NDML, NSIC (Govt. of India), recognized by Indian Bank Association(IBA) and have a working relationship with leading scheduled banks like Allahabad bank, Bank of India, Central Bank of India,Punjab National Bank, United Bank of India, State Bank of Mysore, State Bank of Hyderabad, Punjab & Sind Bank, Tamilnadu Mercantile bank etc

About the Scheme

NSICONICRA 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 its nodal agency for the implementation of the scheme.

The scheme was launched by the Honorable Finance Minister & is approved by Indian Banks Association (IBA). THE MINISTRY OF SSI IS OFFERING A SUBSIDY OF 75% ON THE RATING FEE.

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
1. A combination of credit and performance factors including operations, finance, business and management. 2. Turnover based Fee structure 3. Implemented through NSIC, a nodal agency of Govt. Of India. 4. Approved by Indian Banks Association (IBA) 5. During first year a subsidy of 75% on rating fee by Ministry of SSI

Benefits to SSI
1. ACCEPTABILITY WITH BANKS: The IBA approval enhances the acceptability with banks, lenders and financial institutions. This gives access to quicker and cheaper credit. 2. CREATING AWARENESS: The awareness on strength and weakness helps in identifying the areas of improvement and puts focus on their strengths. 3. CONFIDENCE AMONG BUYERS: It infuses confidence among buyers while taking decisions on sourcing the material from SSI & a recognition in trade 4. RISK MANAGEMENT: It highlights the Parameters measuring operational, financial, business & management risks 5. INCREASED PRODUCTIVITY: It provides an unbiased opinion on strengths and weaknesses of their existing operations & the corrective measures

Support SSI - Possibly can get

1. Speedier Loans Disbursement for Authenticated SSI/SME 2. Consideration on the Interest Rates, may be a special discount for Highly rated SSI 3. Waiver of Collateral in specific qualified cases 4. Privilege benefits as per policy

Rating Process
1. Submission of Application in Duplicate by SSI in prescribed form. 2. Application has to be accompanied by the list of documents and SSI share of rating

fee (i.e.25% of the total fee). (The payment should be in the name of Onicra Credit Rating Agency of India ltd payable at Delhi.) 3. Collection of information from SSI 4. Conduct basic research 5. Site visit & meeting with SSI management with prior appointment 6. Analysis & preparation of report by the Analysis wing 7. Approval of rating by the Rating Committee 8. Assign Rating 9. Communicate Rating & Rationale to SSI & NSIC 10. ONICRA will assign rating within a month after the receipt of all the documents from the SSI.

ELIGIBILITY A Registered SSI Unit in India is eligible to avail the benefit of the rating scheme. A proof of registration as SSI will be required.

Rating Fee:
Fee to be paid by SSI (Rs.) 15,000/- to 20,000 /- based on turnover. Fee to be paid by Non SSI (Rs) 45000/-[Discounted Rate] All Payments should be by way of a D.D / Cheque in the name of ONICRA CREDIT RATING AGENCY OF INDIA LIMITED, payable at New Delhi The Subsidy is being directly given to ONICRA by Ministry of Small Scale Industry through NSIC.