Hence, movable assets are the main type of securities that firms can pledge to obtain bank financing. CERSAI, in active co-ordination with Government of India and Reserve Bank has already established the movable asset registry, which when mature would have a multiplier effect in lending to the sector. I would again request all stakeholders to make optimal use of this platform.
(iii) Credit counsellors Most MSMEs are typically enterprises with weak credit histories and also with inadequate expertise in preparing financial statements. To overcome this handicap, RBI took initiatives to implement a scheme wherein services of a set of certified credit counsellor would be available to the MSME entrepreneurs.