Karur Vysya Bank inks MoU with SME Rating Agency

[manimarank]

Karur Vysya Bank (KVB) has informed that it has signed a memorandum of understanding (MoU) with SME Rating Agency of India
(Smera) to enable its SME Borrowers to get rated themselves.

Under the arrangement, Smera will provide data about external credit rating by considering the financial position and qualitative factors that have a bearing on the credit worthiness of the SME and Karur Vysya Bank will finance the SME.

According to sources, the MoU plans a co-operation between the two institutions for financing of SME by leveraging the strengths of both the organisations.

The Karur Vysya Bank has 239 branches spread across 11 states and 2 union territories.