J&K Bank signs MoU with Infomerics

Officials of J&K Bank and Infomerics during signing of MoU at Srinagar on Tuesday.
Officials of J&K Bank and Infomerics during signing of MoU at Srinagar on Tuesday.

Excelsior Correspondent
SRINAGAR, Jan 29: J&K Bank signed Memorandum of Understanding (MoU) with Infomerics, a SEBI registered and Reserve Bank India accredited rating agency, here today.
The MoU was signed by Bank’s Vice President and Chief Risk Officer, Fayaz Ahmad Zargar and Director, Infomerics Suraj Pratap Malik in presence of Chairman and CEO J&K Bank Parvez Ahmed, Mentor and Director Infomerics, Vipin Malik. Vice Presidents of the J&K Bank Arshad Hussain Dar and Anil Deep Mehta and Chief Rating Officer Infomerics B K Bajaj were also present.
Commenting on the occasion, Chairman and CEO Parvez Ahmed expressed that the tie up with Infomerics will go a long way in facilitating rating requirements of the corporate borrowers in Kashmir. “Our customers would face lots of difficulties when it came to rating of their accounts. Taking cue from this concern, J&K Bank roped in Infomerics an RBI accredited rating agency for the convenience of its borrowers. Through this MoU, Infomerics is setting up offices in Srinagar and Jammu and the corporate borrowers would avail their services in the state itself without any inconvenience” adding, “the presence of a rating agency in the vicinity shall bring in value addition to the financial system and the borrowers would benefit to a large extent by getting the best pricing for their loans based on the rating of their accounts”.
Mentor and Director, Infomerics, Vipin Malik, while terming the MoU with J&K Bank as a significant development said, “The corporate borrowers of J&K Bank would benefit immensely by availing our rating services. The borrowers through interaction with our agency would receive a significant value addition in their financial profiles” adding, “Foraying into this geography where no other rating agency has its presence, we look forward to bringing a significant value addition to the financial landscape of the place”.