Name the Indian bank that signed an MoU with CARE Ratings to assess credit quality of its small and medium enterprises (SME) customers in 2020.  

The correct answer is Bank of Baroda.

Key Points

• Bank of Baroda signed a Memorandum of Understanding (MoU) with CARE Ratings in 2020.
• The MoU was aimed at assessing the credit quality of the bank's small and medium enterprises (SME) customers.
• This collaboration was intended to help SMEs by providing them with better insights into their creditworthiness.
• CARE Ratings is a prominent credit rating agency in India.
• This initiative was part of the bank's efforts to support the growth and development of SME sector, which is a crucial component of the Indian economy.

 Additional Information

• HDFC Bank
  • HDFC Bank is known for its extensive range of financial products and services.
  • It is one of the leading private sector banks in India.
  • HDFC Bank provides loans, credit cards, savings accounts, and various investment products.
• ICICI Bank
  • ICICI Bank is another major private sector bank in India.
  • It offers a wide array of financial services including retail banking, corporate banking, and asset management.
  • ICICI Bank has a strong presence in both urban and rural areas of India.
• Axis Bank
  • Axis Bank is one of the largest private sector banks in India.
  • It provides a variety of financial services including personal banking, corporate banking, and investment banking.
  • Axis Bank has a significant focus on digital banking and innovation.