Mid directions from the finance ministry, most public sector banks (PSBs) are ready to launch the credit risk assessment model for micro, small and medium enterprises (MSMEs), with a loan amount between ₹25 lakh and ₹5 crore to be assessed by the model for different banks, according to an internal government document reviewed by Business Standard.
Bank of India, Punjab & Sind Bank, Canara Bank and Indian Bank are planning to launch this model on November 25.
Six other PSBs - Bank of Baroda (BoB), Union Bank of India, Uco Bank, Central Bank of India, Indian Overseas Bank and Punjab National Bank - are expected to launch the model by November 30.
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