Knowledge Partner


SMERA Ratings Limited is a full-service rating agency providing bond ratings, bank loan ratings, SME ratings, MFI gradings & COCA, and solar gradings. SMERA’s pioneering work is globally recognised. SIDBI was awarded ‘Outstanding Development Project Award’ in SME Development Category for setting up SMERA by The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP).As of 15th June, 2017 SMERA has assigned 45,640 ratings to bank borrowers, bond issuers, and SMEs. SMERA has permanent registration as a CRA from SEBI to rate a wide range of capital market instruments. RBI has approved SMERA as an eligible External Credit Assessment Institution (ECAI) under the New Capital Adequacy Framework (Basel II). NSIC has empanelled SMERA under the Performance & Credit Rating Scheme to award independent and reliable opinions on capabilities and creditworthiness of MSEs. SMERA partnered with the RBI think tank, to develop SMEs’ Sentiment Index. SMERA was sanctioned a Technical Assistance grant of Rs.10.54 crores by DFID, UK under the World Bank ‘Project on SME Financing & Development’