Vijaya Bank signs MoU with M/s ICRA

Bangalore, July 17 (UNI) Vijaya Bank today signed a Memorandum of Understanding (MoU) with M/s. ICRA Limited, an RBI accredited rating agency, to provide bank loan ratings to its corporate clients at a concessional fee.

Under the MoU, the Corporate customers of the Bank will be able to have their loan exposures rated by ICRA, according to a release.

For the Credit Risk, RBI has advised the banks to apply the Standardised approach, accordingly the Banks have to assign capital charge based on external loan ratings. Earlier Vijaya Bank had entered into MoUs with CRISIL, FITCH and CARE for providing rating services to its corporate customers.

UNI MSP RS SKB1735