Mumbai, Jan 7 (KNN) SMERA Ratings Ltd (SMERA), an accredited rating agency by Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) has recently completed rating of 25,000 Micro, Small and Medium Enterprises (MSMEs) in India within 8 years of its operations.
SMERA, formerly known as SME Rating Agency of India Ltd, is a pioneer in MSME ratings.
Within a short span, SMERA ratings have established a credible track record within the lending fraternity with Memorandum of Understanding – (MOU) with 36 banks in the country.
“The popularity of credit ratings within the MSME sector was possible due to affordable cost of rating facilitated by the subsidy provided by the Ministry of MSME, Government of India and efficient execution of the scheme by National Small Industries Corporation – (NSIC),” said a statement.
CEO of SMERA Ratings Ltd Parag Patki said, “The MSME sector is the backbone of any economy, and the heath of the MSME sector is critical to ride the forthcoming wave of economic revival for the country.
“We expect increasing opportunities for the MSME sector with the Indian Government taking measures to improve investment climate along with initial signs of economic revival in the developed economies. SMERA believes that better managed, efficient and SMERA rated units are eminently positioned to harness these opportunities,” he added.
Further, “SMERA remains committed to facilitating the growth of the MSME sector in India through its Credit Ratings Services and is looking forward to participate in the orderly growth of the sector,” he said.
MSME’s derive potential monetary and non-monetary benefits by availing SMERA’s Credit Rating services, besides building confidence in their lenders, customers, employees as well as suppliers.
SMERA Ratings Limited is a joint initiative of Small Industries Development Bank of India (SIDBI), Dun and Bradstreet Information Services India Private Limited (D&B) and leading public and private sector banks in India.
SMERA commenced its operations in 2005 as an exclusive credit rating agency for MSME sector in the country.
SMERA is registered with SEBI as a Credit Rating Agency (6th in India). More recently, the Company has received accreditation from the RBI as an External Credit Assessment Institution (ECAI) under BASEL - II norms for undertaking bank loan ratings.
SMERA is also empanelled as an approved rating agency by the National Small Industries Corporation Ltd (NSIC) under the "Performance and Credit Rating Scheme for Small Industries", approved by the Ministry of Small Scale Industries, Government of India.