Former Punjab National Bank MD & CEO Sunil Mehta launches credit rating company Acer
15 Oct 2025, 09:11 PMAcer Credit has attracted investment from lenders Indian Overseas Bank and Central Bank of India.
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Former Punjab National Bank Managing Director and CEO Sunil Mehta has launched a credit rating company Acer Credit.
The credit rating company has received the Securities and Exchange Board of India (SEBI) registration and will start operations in the coming months, the Moneycontrol reported.
Acer Credit has attracted investment from lenders Indian Overseas Bank and Central Bank of India.
Mehta and the banks have together invested around Rs 25-27 crore in the venture.
The rating agency's board comprises of senior financial sector professionals, including Ajay Kumar Choudhary, former Executive Director of the Reserve Bank of India (RBI) and current board member at the National Payments Corporation of India (NPCI). MS Sahoo, former Chairperson of the Insolvency and Bankruptcy Board of India (IBBI) and Giriraj Prasad Gupta, former Controller General of Accounts (CGA) have also joined the board.
Mehta, whose career spans over four decades, served as MD & CEO of Punjab National Bank until September 2019. He also led the Indian Banks’ Association (IBA) since January 2020. He has also been involved in various committees, including those with the government and Reserve Bank of India (RBI), among others.
The ratings agency in India has been dominated by the likes of Crisil, Icra, Care Ratings and India Ratings.
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