Daijiworld Media Network- Mangalore (SN/SP)
Mangalore Oct 15: For being able to adhere to the capital adequacy framework guidelines for Basil-II brought out by Reserve Bank of India, Karnataka Bank recently entered into memorandum of understanding(MOU) with ICRA. ICRA has formulated several schemes towards attracting investments from customers to the banks, and help the bank fare better in the rating system.
Under the MOU, ICRA will be rating the loans and advances of the bank through its line of credit approach through standardized principles.
General manager of Karnataka bank P Jayaram Bhat and senior vice-president of ICRA Jayant Chatterjee signed the agreement, a release from the bank said.