Care and Bank of Maharashtra inks MoU

Kolkata, Dec 1(UNI) Care and Bank of Maharashtra have signed an MOU under which CARE will assign ratings to the Banks Loans and its other exposures under standardized approach of RBI's New Capital Adequacy Framework.

The Existing as well as the potential borrowers of the Bank of Maharashtra will benefit from the rating exercise at a special discounted rate, according to a release issued here today.

The Basel II framework stipulates a system of graded risk weights for capital adequacy determination of banks in line with credit ratings awarded by eligible credit rating agencies in India under the standardized approach.

Reserve Bank of India has recognized Care as an eligible rating agency for this purpose, the release said.

UNI