Public sector lender Allahabad Bank and rating agency Brickwork Ratings (BWR) have entered into an agreement for the purpose of promotion of credit ratings of the bank.

The target segment happens to be the MSE (micro and small enterprises) borrowers and potential customers of the bank.

Following the tie up, it would become a lot easier for new as well as old borrowers of the bank to avail loans from the bank.

The bank would thus be able to make correct and faster decisions regarding loan deployment to prospective borrowers.

The two entities have signed a memorandum of understanding (MoU) in this regard.

Allahabad Bank also has tie ups with credit-rating agencies - SMERA, CRISIL and ONICRA.