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SMERA signs MoU with five banks
Special Correspondent
NEW DELHI:
Premier credit rating agency for SMEs, SME Rating Agency of India (SMERA), has signed memorandum of understanding with five leading commercial banks to link their credit ranking for extending credit at a reduced interest rate of 2.5 per cent to SMEs.
It will also shortly enter into a similar MoU with ICICI Bank, said CEO, Rajesh Dubey.
Inaugurating a seminar on credit rating agencies v SMEs, organised by the Associated Chambers of Commerce and Industry of India (Assocham), Mr. Dubey said the five banks were: State Bank of India, Canara Bank, Bank of India, Union Bank of India and Syndicate Bank.
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