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Mangalore, June 14

Corporation Bank has signed a memorandum of understanding (MoU) with ICRA Ltd for SME rating. A bank release said here on Thursday that the purpose of the MoU is to enter into an alliance for utilising the services of each other to promote the cause of SME sector. In particular, the MoU envisages comprehensive and reliable rating services to SMEs at an affordable cost.

Mr K.L. Gopalakrishna, Executive Director of Corporation Bank, and Mr Jayanta Chatterjee, Senior Vice-President and Head of Southern Region, ICRA, executed the MoU in Bangalore recently, the release added.

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