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Bank to use SMERA ratings for SME lending: RBI
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SME Times News Bureau | 18 Sep, 2012
The Reserve Bank of India (RBI) has approved SME Rating Agency of India (SMERA) as an eligible external credit assessment institution under the Basel norms, reports media.
According to a company statement, released in Mumbai recently, SMERA, promoted by Small Industries Development Bank of India (SIDBI) and Dun & Bradstreet along with various government, public and private sector banks, will now be able to offer its services to small and medium enterprises (SMEs) in the bank loan space.
As per the RBI circular, banks can now use the ratings of SMERA along with existing five domestic credit rating agencies.
Referring to the approval, SMERA chairman, SG Gulati said, "with RBI accreditation, we have now a level-playing field with other rating agencies and I am confident that our ratings will enable investors to take better decisions."
At present, the rating agency offers services such as SME ratings, Greenfield and Brownfield grading, ratings of NCDs and bonds, IPO grading, education institution ratings, green ratings, micro-finance institutions among others.
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