To avail of subsidy from MNRE, channel partners need to obtain a grading from CRISIL; the grading process (see Chart 1) involves the following steps:
Channel partner approaches CRISIL for grading, submitting documents, mandate forms and cheque (payable in Mumbai) drawn in favour of CRISIL Ltd. The format for the mandate form, and list of documents are available on request.
On receipt of all documents, as detailed in the annexure, CRISIL commences review of the information, and eventually assigns a grade.
Channel partner submits report to Project Approval Committee (PAC), and the application for approval of subsidy under the JNNSM scheme.
PAC sanctions the proposal, and disburses the subsidy.
Chart 1: The grading process: