KOCHI:
CSB Bank, one of the oldest private sector banks in India with a lineage of 100 years, has joined hands with CRISIL to strengthen its connect with SMEs and to better evaluate the creditworthiness of its existing and potential customers.
CRISIL Ltd is a leading, agile and innovative global analytics company offering ratings, data, research, analytics and solutions to over 100,000 customers.
The association entails a knowledge series, which the bank aims to conduct in a phased manner across India to increase its visibility among SMEs and various trade bodies. Through this activity, the bank aims to empower SMEs for financial inclusion and growth and help them enhance their creditworthiness.
Shyam Mani, Head SME & NRI Banking, CSB Bank, said on the initiative, “While access to formal credit is critical for SMEs to flourish, they need the right knowledge and expertise to propel their business and scale newer heights. Through our knowledge sessions, we aim to support and guide SMEs in their journey of growth and drive them towards achieving India’s vision of US$5 trillion economy. We believe our partnership with CRISIL will play a key role in unlocking maximum value to SMEs and making our Bank a renowned one amongst stakeholders.”
Suresh Krishnamurthy, Senior Director – Research, CRISIL Market Intelligence and Analytics, said on the initiative, “CSB has chosen CRISIL Research as its SME knowledge partner of choice. We support the efforts of lenders to understand the nuances of the SME space by leveraging our extensive database, institutional expertise, deep understanding of the market and its lending practices, and strong on-ground connect with stakeholders. Additionally, our cross-sectoral linkages enable robust tracking of current and evolving situations in the space.”
Currently, the bank offers credit to SMEs with a turnover of Rs 250 crore and below and the focus sectors are textiles, healthcare, engineering, pharmaceuticals, construction, chemicals, food processing, electronics and electricals.
In future, going beyond its established presence in south India, CSB Bank envisions foraying into newer markets, which spells significant opportunity to build SME businesses.
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