SIDBI signs Onicra Credit Rating to facilitate credit to MSMEs

MUMBAI: The Small Industries Development Bank of India (SIDBI) today entered into a pact with Onicra Credit Rating Agency to facilitate timely flow of credit to small businesses.

The two bodies signed an agreement to provide loan syndication services for facilitating flow of timely and adequate credit to the micro, small and medium enterprises, a statement by SIDBI said.

This is the seventh rating agency that SIDBI has tied up with for serving its mandated sector of MSMEs, it added.

Onicra provides ratings, risk assessment and analytical solutions to individuals, MSMEs and corporates, it said, adding that a credit rating helps creating the required trust for a financial market player.