Bank of Baroda (BOB) has entered into a memorandum of understanding (MOU) with Credit Analysis and Research (CARE) under which the micro, small and medium enterprises (MSME) customers of the bank will obtain credit ratings from CARE and bank will utilize CARE’s ratings for evaluating its existing as well as potential MSME clients. The rating would help BOB in selection of quality of assets. The MOU was executed on February 18, 2012.
CARE was incorporated in April 1993, and is promoted by IDBI Bank and Canara Bank. CARE is a leading, full service credit rating company in India.
Bank of Baroda, India’s International Bank, established in 1908, has more than 3700 branches across the country. The Bank is a key player and very active in financing SMEs nationwide through its 44 SME Loan Factories across the country.
