IDBI Bank Ltd entered into a MoU with SMERA to evaluate its MSME

Corporate Current Affairs August 2012. IDBI Bank Ltd entered into a Memorandum of Understanding (MoU) with SME Rating Agency of India Ltd (SMERA) to evaluate its existing as well as potential MSME clients

Created On: Aug 30, 2012 18:25 IST

IDBI Bank Ltd entered into a Memorandum of Understanding (MoU) with SME Rating Agency of India Ltd (SMERA) to evaluate its existing as well as potential MSME (Micro, Small and Medium Enterprise) clients. This will make it easier for IDBI to get information and expedite the credit decision in lending to the prospective MSME customers.
IDBI has agreements with rating agencies such as CARE and Crisil to rate its prospective MSME clients. IDBI Bank’s outstanding MSME lending was estimated at17000 crore rupees on 31March 2012.

The net non performing assets (NPAs) for the segment (MSME) increased to 2.29 per cent in financial year 2012 as compared with 1.83 per cent in financial year 2011.

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