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Karnataka Bank, CARE sign MoU to offer services to MSMEs

Tags: karnataka bank, care, mou, msme, credit rating, due diligence, mse, mangalore

February 25, 2014 | COMMENTS ( 0 )

Karnataka Bank, CARE sign MoU to offer services to MSMEs

Mangalore-based private sector lender, Karnataka Bank Ltd has recently signed a memorandum of understanding (MoU) with Credit Analysis and Research Ltd (CARE) to offer credit rating to the micro and small enterprises sector and due diligence for the bank’s MSME customers.

 

A statement issued by the bank on Monday said that 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.

 

The statement added that 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.

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