Small Industries Development Bank of India (SIDBI) is planning to set up a credit rating agency for the small- and medium-sized enterprises (SME) sector, along with Dun and Bradstreet, Credit Information Bureau of India Ltd and other commercial banks. This agency will provide an affordable, credible and independent rating to SMEs, which will help them get funds at competitive rates and also enhance their creditability, said N. Balasubramanian, chairman and managing director, SIDBI. "This will be first credit rating agency for the SME sector. With this agency, we can reach out to a larger number of SMEs," he said. Once a rating system is in place, those SMEs with strong financials can even enter the capital market through initial public offering, he added.
All news and features older than 7 days are subscription only. This article is from the archive. Archived articles could only be accessed with the subscription. If you are a subscriber please log in, alternatively you need to purchase a subscription to view the full content for this page.
