SIDBI guided the ranking model for MSME lending by CIBIL, known as the FIT Rank. What data forms the basis of this rank?  

Under the mentorship of SIDBI, CIBIL, in collaboration with Online PSB Loans Limited (OPL), launched FIT rank by leveraging the power of Goods and Services Tax (GST), Bank Statements, and Income Tax returns (ITR) information to provide a ranking model for MSME lending.    The ranking model uses machine learning algorithms to arrive at the probability of an MSME becoming a non- performing asset (NPA) in the next 12 months based on its financial, income, and trade data .    The ranking is done on a scale of 1 to 10 with FIT Rank 1 for the least risky MSME and FIT Rank 10 for the most at-risk MSME. Each FIT rank corresponds to a Probability of Default (PD) and lower the FIT Rank, lower is the PD associated with the MSME.