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2014-02-25

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.

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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