The government said that over three lakh Micro, Small and Medium Enterprises (MSME) loan applications amounting to more than 52 thousand 300 crore rupees have been sanctioned by the Public Sector Banks. The Finance Ministry said that these loan applications were sanctioned between April and December last year. 

 

The Public Sector Banks had launched the Credit Assessment Model last year based on digital footprints for MSMEs. The Ministry said this credit assessment model leverages the digitally fetched and verifiable data available in the ecosystem and devises automated journeys for MSME Loan appraisal. The digital footprints are used by the model for KYC authentications, mobile and email verifications, GST data analysis, bank statement analysis, and ITR verification, among others.