October 14, 2019
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Customer outreach initiative expands bank credit and NBFC participation to enable MSME bill discounting and working capital access.
The review directed continuation and expansion of the Customer Outreach Initiative with NBFC participation and a focus on receivable bill discounting to enhance MSME working capital access, supported by corporate dues data from the Ministry of Corporate Affairs; outreach will cover home, vehicle, agriculture, education, MSME and personal loans while maintaining existing diligence and underwriting standards. It also reiterated PSB support to NBFCs/HFCs through credit and pool-buyouts, utilisation of the Partial Credit Guarantee Scheme, commitment to expeditious disbursements, and government issuance of clarifications to expedite scheme processing.