Mangalore, Jan. 25
CORPORATION Bank and SMERA (SME Rating Agency of India Ltd) have signed a memorandum of understanding (MoU) to assign rating to SME clients of the bank.
A bank release said here on Wednesday that the customers of the bank could get a SMERA rating at a low cost. They can use this rating to build credibility with the bank, and also with their customers, suppliers and collaborators.
Rated SMEs will find it easier to obtain funds from the bank at appropriate terms. The rating report prepared by SMERA can be used as a self-improvement tool, the release said. The rating will be an additional input to objectively and scientifically make lending decisions, and determine terms such as interest rates, margin and collateral requirements for SSI borrowers, the release added.