Bengaluru, Oct 24 (KNN) Private sector bank YES Bank and SEBI registered credit rating agency – Brickwork Ratings have entered into an agreement to hold joint seminars and workshops to keep SMEs informed about rating and funding avenues.
The Memorandum of Understanding was signed between the two parties - Senior President, Business Banking, YES Bank Limited Sanjay Agarwal and Founder Director, Brickwork Ratings D Ravishankar recently, with an aim to foster growth, create knowledge standards, thereby promoting a credit culture in the MSME sector.
Considering that the challenges and risks faced by SMEs are unique the segment, a specialized approach will be worked out to credit evaluation and risk management.
Towards this YES BANK and Brickwork Ratings will carry out focused studies and work closely with SME clients to help them respond more effectively to the changing economic conditions.
Credit Rating Agencies (CRA’s) play an important role in bridging the information gap about SMEs, providing a common yardstick for measuring credit risks and performing a key surveillance on monitoring function for lenders & investors.
Brickwork Ratings is a SEBI Registered Credit Rating Agency having rated around Rs. 250,000 crore of debt. It is accredited by RBI for carrying out Basel II (Bank Loan Ratings) and empanelled with NSIC for MSME Rating. A full-fledged Rating Agency, it carries out all types of Ratings and Grading services.