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Our Bureau

New Delhi, May 18

Punjab National Bank (PNB) has entered into a strategic alliance with Crisil for risk rating of SME customers of the bank. SME borrowers of the bank can now get themselves rated by Crisil to avail adequate and timely credit from the bank. "A rating increases the comfort level to both the lender and the promoter of the SME," Mr V.K. Nagar, General Manager of PNB, told Business Line. "It is not mandatory for SMEs to go in for a rating. This is also a win-win tie-up for us and Crisil." A memorandum of understanding has been signed between PNB and Crisil. This MoU would be valid for one year. Crisil has agreed to provide a concession to its standard fee structure to assist potential as well as existing SME customers of the bank to obtain rating.

Mr Raman Uberoi, Senior Director (Ratings), Crisil, said that SMEs have a lot to gain from the use of ratings.

For PNB, the rating will be an additional input to objectively and scientifically make lending decisions for SME borrowers.

More Stories on : Credit Rating | SSI | Credit Market | Punjab National Bank

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