Vijaya Bank signs MoU with Crisil

Vijaya Bank has signed a memorandum of understanding (MoU) with credit rating agency, Crisil, for rating its corporate customers.

The corporate customers will now be able to have their loan exposures rated by Crisil at a concessional fee.

The rating will be mutually beneficial for bank and the customers both, after migration to the Basel II regime.

Vijaya Bank is expected to become Basel II compliant from September. Well rated borrowers will be in a position to borrow at lower rates.