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| J&K Bank signs MoU with ONICRA | | |  EARLY TIMES REPORT
Srinagar, Nov 12: J&K Bank, the premier financial institution of the state today signed a Memorandum of Understanding (MoU) with ONICRA Credit Rating Agency for rating of Micro, Small and Medium Enterprises (MSME) which are either prospective or existing customers of J&K Bank.
With a purpose to support MSME sector, the MoU was signed by O.P. Sharma, president & Zonal Head Jammu on behalf of J&K Bank and Rajiv Soni, business Group Head (SME) on behalf of ONICRA at the bank’s Zonal Headquarters, Rail Head Complex, Jammu.
Nishi Baru, Vice-President, J&K bank and Anil Suri, president, Bari Brahman Industries Associations were also present on the occasion.
After putting in his signatures Zonal Head said, “Rating through the credit agency will act as an additional input for the bank in evaluating and swift sanctioning of credit needs of the units.”
It can further provide an opportunity to units to enhance their organizational strength in terms of finance, marketing, production, corporate governance and operations by becoming aware about their strengths and weaknesses, he added.
Notably, ONICRA Credit Rating Agency is an active player in the Credit and Performance Assessment space.
It provides scoring and rating services to Individuals, Corporates and MSMEs.
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