Karnataka Bank Ltd has signed a memorandum of understanding (MoU) with Credit Analysis and Research Ltd (CARE) for providing credit rating services to the MSE (micro and small enterprises) sector and due diligence services for the MSME (micro, small and medium enterprises) clients of the bank.
A bank statement said here on Monday the rating services provided by CARE are an independent third-party assessment of the overall condition of the MSEs and will benefit them in benchmarking themselves in the market place. The due-diligence service will provide a customised solution for an independent and unbiased verification of customer profile for meeting the specific needs of the customer.
With a view to assisting the potential and existing MSE clientele of the bank, CARE will provide credit rating under a special incentive by discounting its rating fees, and also provide due-diligence services to MSME units in existence for more than one year.
Meera Aranha, General Manager of Karnataka Bank Ltd, and Mehul Pandya, Chief General Manager and Head (SME) of Care Analysis and Research Ltd, signed the MoU in Mangalore recently, it said.