Consider the following statements : In India, credit rating agencies

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Consider the following statements :

  • In India, credit rating agencies are regulated by Reserve Bank of India.
  • The rating agency popularly known as ICRA is a public limited company.
  • Brickwork Ratings is an Indian credit rating agency.

Which of the statements given above are correct ?

1 and 2 only
2 and 3 only
1 and 3 only
1, 2 and 3
This question was previously asked in
UPSC IAS – 2022
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Statement 1 is incorrect: In India, credit rating agencies are regulated by the Securities and Exchange Board of India (SEBI) under the SEBI (Credit Rating Agencies) Regulations, 1999. The Reserve Bank of India’s role is primarily in prescribing how banks should use these ratings for capital adequacy purposes. Statement 2 is correct: ICRA Limited is indeed a public limited company, listed on Indian stock exchanges. Statement 3 is correct: Brickwork Ratings India Pvt. Ltd. is an Indian credit rating agency, registered with SEBI.
Credit Rating Agencies in India operate under the regulatory purview of SEBI.
Besides ICRA and Brickwork Ratings, other prominent SEBI-registered credit rating agencies in India include CRISIL, CARE Ratings, India Ratings and Research (Ind-Ra), and SMERA Ratings (now Acuité Ratings & Research).

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