Bank of Baroda, Dun

Mumbai, May 17 (UNI) Bank of Baroda and Dun&Bradstreet have executed a Memorandum of Understanding (MoU) under which the latter will assign ratings to the Bank's SSI customers under NSIC-D&B Performance&Credit Rating at a subsidized fee.

The MoU was signed by BoB executive director V Santhanaraman and D&B chief operating officer Kaushal Sampat, a press release here said.

Under the MoU, BoB will refer its existing and prospective SSI customers to D&B for rating and D&B will offer a discount to BoB customers in addition to the subsidy made available from National Small Industries Corporation (NSIC).

D&B has entered into an agreement with the NSIC to assign credit ratings under NSIC-D&B Performance and Credit Rating Scheme for SSIs. The rating scales have been specially designed for SSI units.

Following the MoU, BoB's SSI customers will get D&B's globally accepted rating at a special fee. This will help rated SSIs establish their credibility on a global platform and get listed on D&B's global database, enabling them to tap global business opportunities, the release said.

The D&B rating will also help the SSI units to build credibility with bank, customers, suppliers and collaborators and can be used as a self-improvement tool.

D&B has reportedly rated the maximum number of SSI accounts under NSIC D&B Performance&Credit Rating Scheme since inception.

UNI