Financial Daily from THE HINDU group of publications
Wednesday, Nov 23, 2005
Financial Daily from THE HINDU group of publications Wednesday, Nov 23, 2005 |
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Opinion
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Letters SME ratings
This is with reference to the report, "SMEs will have to wait to get benefits of ratings", (Business Line, November 10). According to the report about 10-20 companies have gone in for the rating; but 33 units were given rating certificates at the launch of SME Rating Agency of India Ltd (SMERA) by the Finance Minister on September 5.
The SMERA ratings are being sought by over 100 SME units and many more are expected to follow suit. We are sure that with increasing awareness among SME units about ratings from SMERA, the number will grow. We are working to create an environment where the differential interest spread between lending to rated SMEs and other loan assets of banks will come down considerably. This will mean considerable savings in the interest costs. This will create a competitive environment among banks to lend at similar rates to the well-rated SME units. N. Balasubramanian Chairman SME Rating Agency of India Ltd Mumbai
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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