KARNATAKA BANK LTD AND CREDIT ANALYSIS & RESEARCH LTD (CARE) JOIN HANDS TO BOOST MSME ADVANCES.
Karnataka Bank Ltd., one of the leading Private Sector Banks of India, has joined hands with M/s. Credit Analysis & Research Ltd (CARE), by entering into a MOU for providing Credit Rating Services to the Micro and Small Enterprises sector and due diligence services for the MSME clients of the Bank.
With a view to assist the potential/ existing MSE clientele of the bank, CARE will provide credit rating for such entities rating services under a Special Incentive by discounting its rating fees and also provide Due Diligence Service for MSME units in existence for more than one year.
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 while due diligence service will provide customized solution for an independent and unbiased verification of customer profile for meeting the specific needs of the customer.
The economy is posing challenges for potential investors and funding entities like banks, making it imperative for Banks to carry out exhaustive appraisal of these project prior to funding them.
The Bank will be benefitted by the assistance provided to the potential/ existing MSE customers of the Bank.
Dr.Meera Aranha, General Manager, Credit-‘B’, of Karnataka Bank Ltd and Shri Mehul Pandya, Chief General Manager & Head- SME, M/s.Care Analysis & Research Limited., have signed the MOU in this regard at Mangalore on 17th February 2014. Executives of the Bank from Credit Department viz, Sri. Upendra Prabhu N, General Manager, Sri.V N Manohar, Deputy General Manager, Sri Venkatakrishna Bhat, Asst General Manager, Smt Kalyani R Rao, Chief Manager & Mr. M Chandrasekar and Mr.Vikas P from M/s Credit Analysis & Research Ltd were present on the occasion.