State Bank of Travancore (SBT), a subsidiary of State Bank of India has signed a memorandum of understanding with Credit Analysis and Research (CARE) for rating small and medium enterprises. As per the deal CARE will provide the rating services to SME enterprises at a concessional fee. The rating makes available independent credit opinion which will help suppliers, customers and the general public to ascertain the credibility of unit.
SBT recorded 24% growth in business in 2011-2012, that includes deposits and advances to Rs 13 crore ($26 billion). The NRI segment accounts for 21% of the bank’s total deposits, while one-third of all overseas remittances to Kerala are routed through the bank. The lender also accounts for one-third of NRI deposits in the state.
