Syndicate Bank, FITCH ink MoU on SMEs

Bangalore, Aug 22 (UNI) Syndicate Bank entered into a memorandum of understanding (MoU) with credit rating agency FITCH to support Small and Medium Enterprises(SME) sector in the country.

The tie-up would help makeing available to SMEs, comprehensive and reliable services to enhance their credit acceptance and other services.

It would also help them make use of independent and objective opinion offered by rating agencies for evaluating infrastructure, corporate and other loan exposure of Syndicate Bank, a press note said here today.

FITCH would extend fee concession payable for cases referred by the bank.

Syndicate Bank would have the comfort of an independent assessment of client rating while taking credit decisions.

With this, the bank has entered into MoU with all four other agencies approved by RBI, the note said.

UNI