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Care Ratings targets 2000 SMEs this fiscal
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Namrata Kath Hazarika | 12 Apr, 2012
Care Ratings, a Mumbai based credit rating agency targets to cover 2000 small and medium enterprises (SMEs) in fiscal 2012-13.
"This year we have emphasized to go to the SMEs. We are already working with Nation Small Industries Corporation (NSIC) on the SSIs' ratings. We have targeted 2000 SMEs for ratings this fiscal," said the Managing Director and CEO, Credit Analysis & Research Ltd (CARE Ratings), D.R. Dogra recently.
He added that they have increased their focus on the SME sector to provide a link between the banks and SMEs.
"Apart from Basel II rating, we will also have standalone SME ratings this time," he told SME Times.
Dogra added that it is important to give priority to SMEs because they are the ones to become the emerging enterprises of tomorrow.
Care Ratings rated around 3000 companies in the last fiscal out of which 2005 companies are from the SME sector.
The company's exercise takes into account the management capability, industry dynamics, operational performance, financial risk characteristics and the future prospects of the entity for arriving at the overall risk profile of the SME unit.
The rating agency expects to register 15 to 20 percent growth (CAGR) this year.
Experts view that credit rating, while taking a significant chunk of the perceived uncertainty out of a banker's lending decision, also helps SMEs to negotiate better borrowing rates, get credit fast, and enhance their credibility with suppliers and customers.
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