ICRA signs MoU with Allahabad Bank to rate loans

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New Delhi, Jan 1 (UNI) Credit rating agency ICRA Ltd today said it has inked a memorandum of understanding (MoU) with Kolkata-based Allahabad Bank for assigning ratings to the Bank's loans that would enable the Bank to assess new risk weights applicable to its borrowers.

The agency will assign ratings to the Bank's loans and its other exposures under the standardised approach of the Reserve Bank of India's (RBI) New Capital Adequacy Framework for Basel-II, a statement said.

The risk weights would be linked to the various rating categories and would be as per the RBI's guideline, it added.

To assist potential and existing borrowers of the Bank in obtaining ratings, ICRA is offering special terms to the clients of the Bank covered by the MoU.

UNI SBA SR GC1633

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