CURRENT AFFAIRS

Detailed explanation-1: -MUMBAI: TransUnion CIBIL has partnered with the Federation of Indian Chambers of Commerce & Industry (FICCI ) to launch a nationwide MSME consumer education program that will support MSMEs in gaining awareness of credit management, CIBIL Rank and commercial credit information.

Detailed explanation-2: -Financeseva. CMR stands for CIBIL MSME rank, it is a tool for the way in the credit risk ranking of micro, small and medium enterprises to make informed lending decisions. It is algorithms based on the credit history data that are used to forecast the chances of an MSME loan going bad in the next 12 months.

Detailed explanation-3: -TransUnion CIBIL Limited is a credit information company operating in India. It maintains credit files on 600 million individuals and 32 million businesses. TransUnion is one of four credit bureaus operating in India and is part of TransUnion, an American multinational group.

Detailed explanation-4: -TransUnion acquired a 92.1% stake in CIBIL.

Detailed explanation-5: -CIBIL MSME Rank is a grade assigned to the MSME based on its credit profile, credit behaviour and firmographics on a scale of 1 to 10, CMR-1 being the least risky MSME and CMR-10 being the most risky MSME. Higher the CMR, higher the probability of default associated with the MSME.