India's largest lender State Bank of India (SBI) today announced teaming up with Moody's Analytics for a programme under which the PSU lender's staff will get training to bring efficiency in loan appraisal.
"The State Bank of India (SBI) and Moody's Analytics announced their collaboration to provide bank-wide credit certification to SBI's employees enabling them to a source, appraise and monitor loans faster," SBI said in a statement.
SBI said this will enhance its market lending credit curriculum with the globally recognised expertise of Moody's Analytics.
Besides, the bank would be able to address Reserve Bank mandated programme of certifying financial institutions' staff with regard to their proficiency in credit management through an accredited institution.
"The collaboration with Moody's Analytics will help to enhance our employees’ ability to source, appraise and monitor loans," said Prashant Kumar, Deputy Managing Director & Chief Development Officer, SBI.
Kumar said it will also speed up the process in more efficient manner.
"This programme is directly aligned with bank's goals, and our employees look forward to obtaining a world-class certification from Moody's Analytics," he added.
Moody's Analytics Certificate in Commercial Credit (CICC) has been adapted to the domestic banking industry with the help of former SBI officials and leading industry experts. Ari Lehavi, Executive Director at Moody's Analytics, said "We look forward to a long-lasting partnership with an organisation that shares our commitment to excellence in all aspects of credit lending and risk management."
It will enhance SBI employees' expertise in credit assessment, Lehavi said.
To set a common standard of proficiency among professionals in financial institutions, the RBI had issued guidelines in April this year mandating certifications for specialised banking functions.
The Reserve Bank has accredited Moody's Analytics certifications in the area of Credit Management.
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