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    India's first credit rating agency was CRISIL, incorporated in 1987 and promoted by ICICI Ltd. In 1996, CRISIL formed a strategic alliance with Standard & Poor's and in 1997 S&P acquired a 9.68% stake in CRISIL. Today CRISIL is a wholly owned subsidiary of S&P. India's second credit rating agency was ICRA, set up in 1991 and promoted by IFCI and other financial institutions. The third agency was CARE, which started in 1993 and was mainly promoted by IDBI. A fourth agency, ONICRA, was later established and is now a private sector agency focusing on individual and MSME ratings.

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    India's first credit rating agency was CRISIL, incorporated in 1987 and promoted by ICICI Ltd. In 1996, CRISIL formed a strategic alliance with Standard & Poor's and in 1997 S&P acquired a 9.68% stake in CRISIL. Today CRISIL is a wholly owned subsidiary of S&P. India's second credit rating agency was ICRA, set up in 1991 and promoted by IFCI and other financial institutions. The third agency was CARE, which started in 1993 and was mainly promoted by IDBI. A fourth agency, ONICRA, was later established and is now a private sector agency focusing on individual and MSME ratings.

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    13 views1 page

    Indias Credit Rateing Agencies

    Uploaded by

    Arun kumar
    India's first credit rating agency was CRISIL, incorporated in 1987 and promoted by ICICI Ltd. In 1996, CRISIL formed a strategic alliance with Standard & Poor's and in 1997 S&P acquired a 9.68% stake in CRISIL. Today CRISIL is a wholly owned subsidiary of S&P. India's second credit rating agency was ICRA, set up in 1991 and promoted by IFCI and other financial institutions. The third agency was CARE, which started in 1993 and was mainly promoted by IDBI. A fourth agency, ONICRA, was later established and is now a private sector agency focusing on individual and MSME ratings.

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    Articles of General Knowledge Today

    India’s Credit Rating Agencies


    2011-04-21 11:04:29 GKToday

    CRISIL

    CRISIL is India's first credit rating agency, incorporated in 1987 and was promoted by the erstwhile ICICI
    Ltd, along with UTI and other financial institutions.

    It commenced operations from 1988 onwards. In 1995, in partnership will National Stock Exchange,
    CRISIL developed CRISIL500 Equity Index. In 1996, it made a strategic alliance with the Standard &
    Poor's (S&P) Ratings Group and in the following year Standard & Poor's (S&P) Ratings Group acquired
    9.68% shares in it.

    In services Industry, the CRISIL in 1998 set up the Indian Index Services Ltd as a joint venture with the
    NSE and in 1999, it developed a Risk Assessment Model (RAM) which became a banking industry
    standard. S&P acquired the majority stake in the company in 2005 and so today CRISIL is a S&P
    company.

    ICRA

    India's second credit rating agency is ICRA (Investment Information and Credit Rating Agency) which was
    set up in 1991. It was promoted by Industrial Finance Coroporation of India (IFCI), other leading
    financial/investment institutions, commercial banks and financial services companies as an independent
    and professional Investment Information and Credit Rating Agency. Today, ICRA and its subsidiaries
    together form the ICRA Group of Companies (Group ICRA). ICRA Limited is a Public Limited Company,
    with its shares listed on the Bombay Stock Exchange and the National Stock Exchange.

    CARE:

    The third Credit rating Agency in India was CARE, that started working in 1993. It was mainly promoted by
    the IDBI.

    ONICRA:

    Later another Credit rating agency ONICRA was established which now Onicra Credit Rating Agency Of
    India Ltd. This is a private sector agency set up by Onida Finance. Today it has a niche market and
    provides assessment, grading and rating models for individuals & MSMES (micro, small and medium
    enterprises.

    The Credit rating market take a definite shape in India after the SEBI made it mandatory for any
    debenture that has maturity of more than 18 months maturity.

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