Dena Bank enters into MoU with CARE

Kolkata, Aug 7(UNI) Dena Bank, a public sector bank, has entered into an MoU with SEBI approved credit agencies CARE and CRISIL for utilising their credit rating for evaluating credit quality of its existing as well as potential clients.

A Bank release said the rating would help the bank by way of independent and objective assessment of credit quality of its exposures.

Under the MoU, Dena Bank would make use of the credit ratings of CARE and CRISIL in respect of its Corporate Infrastructure exposure, Manufacturing companies&SME, including SSIs. Under this arrangement the SSI units opting for credit rating, will be eligible for subsidy from NISC.

Dena Bank Chairman&Managing Director P L Gairola observed that the credit ratings would help the Bank in meet its Basel II preparations and form part of its core strategies for efficient allocation of capital.

UNI