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, says Parag Patki,CEO, SMERA Ratings Ltd.
Mumbai (PRWEB UK) 7 January 2014
India’s leading credit rating agency SMERA Ratings Ltd (SMERA) has recently completed 25,000 Micro, 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 Ratings Ltd, 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 sector with the Indian Government taking measures to improve investment climate along with initial signs of economic 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 MSME and the Lender fraternity will continue to work towards improving the adoption and thus penetration of credit ratings within the MSME sector.”
Mr.Ashutosh Satsangi, Vice President–Operations, said, “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%. Contribution from Southern region and Eastern region stands at 24% and 6% respectively.
MSME’s derive potential monetary and non-monetary benefits by availing SMERA’s Credit Rating services, besides building confidence in their lenders, customers, employees as well as suppliers.
About SMERA – http://www.smera.in
SMERA Ratings Limited (formerly SME Rating Agency of India Ltd.) is a joint initiative of Small Industries Development Bank of India (SIDBI), Dun & Bradstreet Information Services India Private Limited (D&B) and leading public and private sector banks in India. SMERA commenced its operations in 2005 as an exclusive credit rating agency for Micro, Small and Medium Enterprises (MSME) sector in the country.
SMERA is registered with the Securities and Exchange Board of India (SEBI) as a Credit Rating Agency (6th in India). More recently, the Company has received accreditation from the Reserve Bank of India (RBI) as an External Credit Assessment Institution (ECAI) under BASEL - II norms for undertaking bank loan ratings. SMERA is also empanelled as an approved rating agency by the National Small Industries Corporation Ltd. (NSIC) under the "Performance & Credit Rating Scheme for Small Industries", approved by the Ministry of Small Scale Industries, Government of India.
Today, SMERA has achieved the reputation of providing comprehensive, transparent and reliable ratings, thus providing comfort and confidence to lenders and investors alike in decision making. SMERA Ratings have gained wide acceptability and are now an integral part of the risk assessment process within the lending and investing community.
SMERA, which has its Registered and Head Office in Mumbai, currently operates from 14 locations spread across the country.