CARE signs pact with United Bank

Credit  Analysis  &  Research  (CARE) and United Bank of India have
signed  an MoU for facilitating bank facility ratings to borrowers.

The  customers  of  United  Bank will benefit from the rating exercise at a
special rate.

The  rating  would  help  the  bank  have  an objective and independent
assessment of the credit quality of its borrowers.

Basel-II  framework  stipulates  a  system of graded risk weights for
capital adequacy determination of banks in line with credit ratings awarded
by  eligible  credit  rating  agencies  in  India  under  the  standardised
approach.

CARE is recognised as an eligible rating agency for this purpose by the Reserve Bank of India.