Monday, April 14, 2008

MoU signed between Vijaya Bank and Fitch rating agency

On Thursday a memorandum of understanding (MoU) was signed between Vijaya Bank, a Bangalore-based public sector lender and Fitch Ratings India to offer bank loan ratings to its corporate clients at a discounted fee.

The statement released by the bank said according to the terms of the MoU, the corporate customers of the bank will be able to have their loan exposures rated by Fitch.

The statement said the Bank is certain that by entering into MoU with the rating agency, their corporate clients will be encouraged to go for the assessment of the credit worthiness which will them in setting the cost.

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