Industry & Economy
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SSI
SMERA bags 200 applications for ratings
Our Bureau
Kolkata
,
Feb. 21
SMERA (SME Rating Agency of India Ltd) has so far clocked 200 applications for ratings, a good portion of which are referrals from banks.
SMERA, which seeks to provide an independent assessment of a small and medium enterprise (SME), now plans to tap the market more systematically, Mr Rajesh Dubey, CEO, said.It plans to leverage the vast potential of the SME segment, which is expected to benefit significantly from the ratings. SMERA is a joint venture between SIDBI, Dun & Bradstreet, Credit Information Bureau (India) Ltd and a number of banks.
SMERA hopes to facilitate an easier flow of credit from banks to the rated companies. On Monday, it signed an MoU with Allahabad Bank. The arrangement will help the bank leverage its financial services with SMERA's rating services, Mr Dubey said.
Allahabad Bank as on December 31, 2005 had a total outstanding amount (under SMEs) of Rs 2,553.85 crore against Rs 2,140.43 crore as on March 31, 2005. This represented a 19 per cent-plus growth. The outstanding figure is expected to reach Rs 3,200 crore by March this year, the bank's Chairman, Mr O.N. Singh, said. Allahabad Bank currently runs 18 SME-financing branches.
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