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Our Bureau

Kolkata, June 23

Fitch Ratings on Friday signed an MoU with United Bank of India for SSI ratings.

The tie-up will enable the bank increase its lending to the small scale sector. It will also help it take quick decisions while lending to SSI units.

The bank, which has an SSI portfolio of about Rs 1,190 crore, has lately initiated various moves to increase credit flow to small-scale units. These include financing clusters, ancillaries, rice milling, food processing units and the like.UBI at the moment offers concessional rates of interest to SSIs from 8 eight per cent to 12.75 per cent per annum, depending on the quantum of loan and risk rating of the account concerned. Fitch Ratings, it may be mentioned, has an agreement with National Small Industries Corporation, the nodal agency for SSI ratings.

More Stories on : Credit Rating | SSI | Credit Market | Public Sector Banks

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