The Hindu Business Line : Dhanalakshmi Bank ties up with Crisil for SME rating

Kochi, Nov. 23 Dhanalakshmi Bank has announced its tie-up with rating agency CRISIL to introduce CRISIL SSI/SME rating for over 500 of its small and medium enterprise (SME) customers.

Mr P.G. Jayakumar, General Manager, Credit and Operations, said that the tie-up is a part of the renewed focus of Dhanalakshmi Bank on the SME sector.

The independent rating by the renowned agency will provide the bank an analysis of SMEs under its portfolio that will further strengthen its internal rating process.

The CRISIL SSI/SME rating is widely accepted and recognised by the industry and is also accepted by most regulatory authorities.

Defined correlation

The exercise will also help the bank in establishing a defined correlation with its internal credit process and benchmark its portfolio against other banks.

Mr Suresh Balasubramanian, Group Head, Trade and Advances, Dhanalakshmi Bank, said “engaging an autonomous rating agency for our portfolio firms, like CRISIL, gives us the enhanced confidence in the credit worthiness of the firms and help us build better relationships.”

Rating exercise

As a part of the rating exercise, Dhanalakshmi solution managers will educate the SME clientele on the benefits of the rating and will encourage them to obtain a time bound rating.

CRISIL will provide a substantial discount in the rating fees for all Dhanalakshmi Bank customers to motivate them to come forward and get themselves rated.

A rating along with a detailed report will be provided to each rated company.

More Stories on : Credit Rating | SSI | Kerala

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
SBT bags award at jewellery show

Rupee gains 16 paise

IDBI Fortis to strengthen bancassurance network

Cover for occupants of insured car, pillion rider on two-wheeler

Now, a mechanism to verify past motor insurance claims

Dhanalakshmi Bank ties up with Crisil for SME rating

Market volatility poses valuation problems: IRDA

Light at end of tunnel

Kotak Mahindra gets $51-m IFC credit to fund small, medium units

Barclays to offer ‘semi-fixed’ loans against property

Call rate ends unchanged

Credit card volumes shrink as banks turn cautious

Edelweiss, Tokyo Marine venture

Experian forms joint venture for credit information bureau