UCO bank signs MOU with ICRA for credit rating

[India]

The bank loans and other exposure of UCO bank will be rated by rating agency ICRA. The grading of these exposures will help the bank to move to Reserve bank of India’s new capital ratio adequacy framework for Basel-II norms. ICRA says – “The MOU seeks to deliver benefits to the bank as well its clients. For the bank, ICRA’ credit rating would assist in implementing RBI’s new framework under Basel-II, whereas for the entity in a superior position in terms of faster loan processing and to obtain competitive credit terms from the bank.”