Chennai: Indian Bank and SME Rating Agency of India Ltd (SMERA) today signed an MoU for extending their co-operation in the area of financing of the SME sector.

The MoU is a comprehensive arrangement which seeks to leverage the strengths of rating services of SMERA and financial services of Indian Bank for the benefit of the small and medium enterprises (SME) customers, bank Managing Director M S Sundara Rajan told a press conference here.

The MoU would pave the way for SMERA for extending credit rating services as an independent third party assessment of the overall condition of the SMEs which take into account their financial position and several qualitative factors that have a bearing on their credit worthiness, Rajesh Dubey, CEO, SMERA said.

Source : PTI