Which of the following statement(s) regarding the MSME consumer education program is/are true? (i) TransUnion CIBIL has partnered with the Small Industries Development Bank of India (SIDBI) to launch this program. (ii) This program will kick off with MSME clusters in Maharashtra, Assam and Tripura. (iii) CIBIL Rank will be assigned to the MSME based on its credit history data on a scale of 1-7.

The correct answer is ‘Only (ii)’ Key Points TransUnion CIBIL has partnered with the Federation of Indian Chambers of Commerce and Industry (FICCI) to launch a MSME consumer education program. The program's objective is to empower MSMEs with knowledge on how to build a good credit history and CIBIL Rank to avail easier and faster access to finance. This programme will help small businesses gain awareness on credit management, CIBIL Rank and commercial credit information. CIBIL Rank assigns a rank to the MSME based on its credit history data on a scale of 1-10. This program will kick off with MSME clusters in Maharashtra, Assam and Tripura. TransUnion CIBIL also publishes insights reports like the MSME Pulse in association with SIDBI and the recent Emergency Credit Line Guarantee Scheme (ECLGS) analysis report to support policymakers and the industry with market insights on the MSME sector. TransUnion CIBIL surveyed point out that 65% of MSMEs imagine that the ECLGS credit score infusion has helped their enterprise by way of monetary troubles. Only one-third of MSMEs in India are served through the formal credit ecosystem, indicating significant opportunities for increasing credit penetration in this key sector. Additional Information The MSME sector forms the backbone of India’s economy and can act as a catalyst for growth. Average balances of MSME have dropped by 17% between March 2020 and March 2021 for debtors availing of the ECLGS scheme. The very small class of debtors and micro phase of debtors decreased their common stability by 33% after availing of the ECLGS facility, whereas small and medium segments confirmed stability lower of 22% and 14% respectively. For all segments, eligible debtors who didn’t avail of the ability had stability lower or lower than 10%. About Ministry of MSME: Cabinet Minister: Narayan Rane Constituency: Maharashtra (Rajya Sabha) Minister of State: Bhanu Pratap Singh Verma Constituency: Jalaun, Uttar Pradesh