Recently it has been reported that a state owned bank, Karnataka Bank has signed a memorandum with Credit Analysis and Research Ltd (CARE) to assist the MSME segment with credit services. The general manager of the bank Meera Aranha and chief general manager Mehul Pandya, of CARE signed the memorandum in Mangalore. A bank statement reported that through this bank will be providing third party independent judgment of the entire condition of the MSEs.
This will also assist the MSME in benchmarking themselves in the market place. The due diligence service facility impartial verification of customer for meeting the needs for the customers. The CARE will aid the MSE clients of the banks with bonanza concessional offers in the rating fees, further will also offer due diligence service offer to the current MSME client for more than 1 year.