ICRA in MoU with Corp Bank to rate RBI's loans

New Delhi, Dec 20 (UNI) Credit rating agency ICRA Ltd today said it has entered into a Memorandum of Understanding (MoU) with the Corporation Bank to rate the bank's loans and its other exposures under the standardised approach of RBI's New Capital Adequacy Framework for Basel-II.

The agency would carry out ratings under its "Line of Credit" rating service and would enable Corporation Bank to assign the new risk weights applicable to its borrowers under Basel-II, it said in a statement.

ICRA will offer special terms to the Bank's clients to assist its potential and existing borrowers in obtaining ratings.

UNI