'Grameen Credit Score' to make lending easier

New Delhi: The central government is planning to launch a 'Grameen Credit Score' system within six months to increase credit to farmers, self-employed persons and self-help groups, according to reports.

'Grameen Credit Score

What are the objectives of Grameen model?

The government is working with public sector banks and the Indian Banks' Association (IBA) to develop a framework for this.

Similar to the model for MSMEs, rural borrowers are said to be assessed on the basis of digital transaction data, government subsidy receipts and UPI functionality.

This data-driven rating system will help banks tailor loans to rural areas.

This will make it easier for entrepreneurs and small businesses to get loans. Industry experts say that this initiative will significantly increase the provision of loans to self-help groups based on the rating.

The creditworthiness of rural borrowers will be assessed based on digital transaction data, government subsidy receipts and UPI activity.

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