SME units to be rated to comply BASEL-II norms

Kolkata, May 22 (UNI) In order to comply with BASEL-II norm, the SME units would be rated by internal and external agencies.

Speaking to mediapersons at the sidelines of the ICC-Global MSME Forum here today, Small Industries Development Bank of India (SIDBI) Zonal Incharge K S Singhwan said, ''SME Rating Agency of India Ltd (SMERA) has already rated around 600 units in India, out of which 54 are in Bengal.'' All the SMEs would have to be rated by internal agencies like SMERA and third party rating agencies like CRISIL before new banking norms, under BASEL-II, get implemented in 2009.

SMERA has signed MoUs with various banks in the country to carry out the appraisal system.

Speaking about SIDBI's target about disbursing loans in the current fiscal, he said the bank would disburse around Rs 600 crore in 2007-08 compared to Rs 400 crore in 2006-07.

''Our main focus will be the micro enterprises and we will try to disburse more loans for this sector,'' he added.

Total loans to be disbursed by the bank in 2007-08 would be Rs 3,000 crore compared Rs 1,508 crore in 2006-07.

UNI