Small and Medium Enterprises Rating Agency (SMERA), a dedicated agency for Small and Medium Enterprises (SMEs) in India, was launched by Union Finance Minister P Chidambaram today in Coimbatore. | |
| According to an SMERA press release, SMEs contribute approximately 40 per cent of the country's domestic production and 45 per cent of India's industrial employment. |
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| Despite their economic significance, SMEs face many bottlenecks like inability to access timely and adequate finance, insufficient credit information on SMEs and low market credibility. |
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| Rating agencies like SMERA aim at addressing some of these concerns by providing comprehensive, transparent and reliable SME ratings, added the release. |
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| SMERA has been set up by Small Industries Development Bank of India jointly with Dun & Bradstreet, Credit Information Bureau (India) Limited and some banks. |
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