ICRA signs MoU with State Bank of Mysore

Mumbai, Jan 9: Credit rating agency ICRA Ltd (ICRA) and State Bank of Mysore have signed a Memorandum of Understanding (MoU) under which ICRA will assign ratings to the Bank's loans and its other exposures under the standardized approach of RBI's New Capital Adequacy Framework for Basel-II.

ICRA in a release here today said that its ratings for the standardised approach would be carried out under its ''Line of Credit'' rating service and would enable State Bank of Mysore to assign the new risk weights applicable to its borrowers under Basel-II. The risk weights would be linked to the various rating categories and would be as per RBI's Basel II guidelines.

To assist potential and existing borrowers of State Bank of Mysore in obtaining ratings, ICRA is offering special terms to the clients of State Bank of Mysore. The MoU would assist in implementing RBI's New Capital Adequacy Framework under Basel-II by the Bank.

UNI