Minu Sirsalewala December 08, 2006 13:38:37 IST

Small Industries Development Bank of India (SIDBI) has just 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 for banks and other lending institutions.

Developed by SIDBI, CART comprises of 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.

According to a SIDBI statement CART essentially aims at helping in prudent decision making on support-worthiness of credit proposals and pricing of the loan and will enable banks/FIs to undertake faster appraisal and rating of the proposals, with recommended pricing band.

The software also has the facility for undertaking re-rating of proposals. It is aimed at serving as a tool for quick appraisal and qualitative rating of credit proposals and offering an efficient credit delivery to SME customers.

SIDBI has been using the software internally for the last three years and claims that CART has contributed to significant reduction in their credit dispensation time. Hence, with a view to extend CART to other banks and financial institutions, SIDBI developed a separate web-based version of the software.

The new CART is a platform independent tool and can be accommodated in any type of an IT set up. Upgradation and customisation of the tool could be taken up as per requirements.

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