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Mumbai January 06, 2014: India’s leading credit rating agency SMERARatings Ltd (SMERA) has recently completed 25,000Micro, Small & Medium Enterprises – (MSME) ratings in India.This milestone was achieved by SMERA in 8 years of its operations.SMERA Ratings Ltd., formerly known as SME Rating Agency of India Ltd., is a pioneer in MSME ratings and is also an accredited rating agency by Reserve Bank of India – (RBI)and Securities and Exchange Board of India – (SEBI). 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).

 

Mr. Parag Patki,CEO, SMERA RatingsLtd, 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 sectorwith the Indian Governmenttaking measures to improve investment climate along with initial signs ofeconomic revival in the developed economies.SMERA believes that better managed, efficient and SMERA rated units are eminently positioned to harness these opportunities.

He further added,” 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”
 

Mr.Virendra Goyal-Vice President- SME (Sales),said “The MSME sector has a huge growth potential in India and the penetration of credit rating culture in the MSME sector is yet low. SMERA,in association with MSME development institutions, Ministry of MSMEand the Lender fraternity will continueto worktowards improving the adoption and thus penetration of credit ratings within the MSME sector.”
 

Mr.Ashutosh Satsangi-Vice President – Operationssaid, “SMERA has rated the companies diversified across sectors including Metal and Metal products, Electrical and Engineering Goods, Capital Goods, Textile, Plastic, and Food & Agro along with the companies in to Trading and Auto Ancillary business. The portfolio is geographically diversified with the Western region contributing the most to the total rated universe of SMERA with 42% followed by Northern region contributing to the tune of 28%. Contributionfrom Southern region and Eastern region stands at 24% and 6% respectively.

MSME’s derivepotential monetary and non-monetary benefits by availing SMERA’s Credit Rating services, besides building confidence in their lenders, customers, employees as well as suppliers.CCI Newswire

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