IDBI Bank has entered into a memorandum of understanding (MOU) with credit rating agency, Credit Analysis and Research (CARE) for utilising the ratings for evaluating its existing as well as potential Micro, Small and Medium Enterprises (MSME) clients.
The bank would get help in its credit decisions by the ratings assigned from CARE which in turn will help the bank’s customer too benefit in terms of reduced pricing and organised information flow.
IDBI Bank has a large portfolio of MSME sector units and is desirous of expanding its lending to this MSME sector in view of the fact that this sector is a key driver of Indian economy in terms of contribution to GDP, employment and exports and also the pronouncements in the Government's MSME policy.
