Karnataka Bank enters in tieup with ICRA

The Mangalore-headquartered Karnataka Bank Ltd, an private sector lender has entered into a Memorandum of Understanding (MoU) with the credit rating agency ICRA Limited.

Under this agreement, ICRA will assign rating to the bank’s loans and other exposures under the Reserve Bank of India’s New Capital Adequacy Frame work for Basel II.

Under this arrangement ICRA will provide rating services to the clients of the bank, especially small and medium enterprises, for the standardised approach. For rating the existing as well as potential clients of the bank, ICRA will offer special terms under this MoU.

Tata Coffee Appoints additional directors Tata Coffee in a release to exchanges has said it has appointed P P Prabhu, Venu Srinivasan and S Santhanakrishnan to the company’s board as additional directors. The company’s board also accepted the resignation of Sanjiv Sarin as director with effect from October 1, 2008.