ICRA has signed an MoU with Canara Bank under which ICRA will assign ratings to the bank's loans and its other exposures under the standardised approach of RBI's new capital adequacy framework for Basel ii.
ICRA's ratings for the standardised approach would be carried out under its " line of credit" rating service and would enable Canara Bank to assign new risk weights applicable to its borrowers under Basel ii.
To assist potential and existing borrowers of Canara Bank in obtaining ratings, ICRA is offering special terms to the clients of Canara bank.