Certification of Borrower Companies (Diligence Report - Lending under Consortium Arrangement/Multiple Banking Arrangements)

Abstract

Opportunity-3

In order to strengthen the information sharing system among banks in respect of borrowers enjoying credit facilities from multiple banks, the banks are required to obtain regular certification by a professional like Cost Accountants.. The introduction of diligence reporting by CMAs in Practice is expected to lay down a strong foundation for good governance culture among borrowing corporates.

To develop the skills in this area, CMAs should acquire good knowledge of credit management system of banks.