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Software Tool From SIDBI For SME Financing
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Software Tool From SIDBI For SME Financing  
SIDBI offers a separate Web-based version of CART to extend the software to other banks and financial institutions.   
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Thursday, December 07, 2006 New Delhi: The Small Industries Development Bank of India (SIDBI) has released Credit Appraisal and Rating Tool (CART), a software tool for enabling quick appraisal and rating of SME credit proposals in an automated workflow environment to be used by banks and other lending institutions.

The CART software, developed by SIDBI, has been in operation for past three years and has contributed to significant reduction in credit dispensation time in the bank. With a view to extending CART to other banks and financial institutions, SIDBI has developed a separate Web-based version of the software.

As a measure to boost credit flow to the small scale industries, the Reserve Bank of India (RBI), in its Credit Policy prescription in 2005, had envisaged leveraging the expertise of SIDBI in assessing credit requirements of SSI by the branches of commercial banks, by using CART for appraisal and rating of proposals.

CART has two menu-driven modules for appraisal and rating. The appraisal module covers analysis of all the relevant aspects of a credit proposal viz. management, financials, industry, market, KYC norms, etc. These are presented in a user friendly manner, guiding the Credit Officers working in a bank through the entire process in a technology based package.

CART essentially aims at helping in prudent decision making on support-worthiness of credit proposals and pricing of the loan. The software also has the facility for undertaking re-rating of proposals. The new CART, which is IT platform independent, is expected to consider loan proposals up to Rs 1 crore.

Rakesh Rewari, DMD, SIDBI, expressed hope that commercial banks, as also State Financial Corporations, would use CART business tool for providing assistance to their SME clients, which would in turn, speed up the credit flow to this important sector of the economy.

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