Assignment No.

Topic: Ques1.What do you understand by the term E-Governance? Discuss in

detail the initiatives taken in implementation of E-governance in the Indian
economy.
Ques2. Write a detailed note on Credit Rating Agencies.

Subject: Business Ethics and Corporate Governance

Subject Code: BC-404
Date of Submission: 11/05/2020

Submitted by: Abhishek Sharma Submitted to: Dr. Nand lal

Roll No: MAU18UCH012 Designation: Assistant professor
Class:B.Com (Hons)
Semester:IV

Maharaja Agrasen School of Management

Maharaja Agrasen University, Atal Shiksha Kunj, Village-Kalujhanda, Baddi
District-Solan, (Himachal Pradesh) Pin -174103
Session 2020
Question1. What do you understand by the term E-Governance? Discuss in
detail the initiatives taken in implementation of E-governance in the Indian
economy.

Answer1. Definition: E-Governance can be defined as the application of information and

communication technology (ICT) for providing government services, exchange of information,
transactions, integration of previously existing services and information portals.

E-governance, expands to electronic governance, is the integration of Information and

Communication Technology (ICT) in all the processes, with the aim of enhancing government
ability to address the needs of the general public. The basic purpose of e-governance is to simplify
processes for all, i.e. government, citizens, businesses, etc. at National, State and local levels.

It is the use of electronic means, to promote good governance. It connotes the implementation of
information technology in the government processes and functions so as to cause simple, moral,
accountable and transparent governance. It entails the access and delivery of government services,
dissemination of information, communication in a quick and efficient manner.

Characteristics of E-governance

 Reduced corruption
 High transparency
 Increased convenience
 Growth in GDP
 Direct participation of constituents
 Reduction in overall cost.
 Expanded reach of government

The initiatives taken in implementation of E-governance in the Indian

economy-
  The establishment of the Department of Electronics in 1970 was the first major step towards e-
governance in India as it brought ‘information’ and its communication to focus.
 National Informatics Centre (NIC) established in 1977, launched the District Information
System program to computerize all district offices in the country
 The main thrust for e-governance was provided by the launching of NICNET in 1987 – the
national satellite-based computer network.
1. Bhoomi Project Bhoomi is a self-sustainable e-Governance project for the
(Karnataka): Online computerized delivery of 20 million rural land records to 6.7 million
Delivery of Land Records farmers of Karnataka.

2. KHAJANE (Karnataka): ‘Government-to-Government (G2G) e-Governance initiative of the

End-to-end automation of Karnataka State Government.
Government Treasury
It has been implemented mainly to eliminate systemic deficiencies
System
in the manual treasury system and for the efficient management of
state finances.
3. e-Seva (Andhra Pradesh) Designed to provide ‘Government to Citizen’ and ‘e-Business to
Citizen’ services.
All the services are delivered online to consumers /citizens by
connecting them to the respective government departments and
providing online information at the point of service delivery.
The project has become very popular among the citizens
especially for the payment of utility bills.
4. e-Courts Launched by the Department of Justice, Ministry of Law and
Justice.
The Mission Mode Project (MMP) aims at utilizing technology for
improved provisioning of judicial services to citizens.
5. e-District Launched by the Department of Information Technology.
The MMP aims at delivery of high volume, citizen-centric services
at the District level such as the issue of birth/death certificate,
income and caste certificates, old age and widow pension, etc.
6. MCA21 Launched by the Ministry of Corporate Affairs.
The project aims to provide electronic services to the Companies
registered under the Companies Act.
Various online facilities offered includes allocation and change of
name, incorporation, online payment of registration charges,
change in address of registered office, viewing of public records
and other related services.
7. e-Office Launched by the Department of Administrative Reforms & Public
 Grievances.
The MMP aims at significantly improving the operational efficiency
of the Government by transitioning to a "Less Paper Office".

Ques2. Write a detailed note on Credit Rating Agencies.

Answer2. Meaning- A credit rating agency is a company that assigns credit ratings, which rate
a debtor's ability to pay back debt by making timely principal and interest payments and the
likelihood of default.
Credit Rating Agencies (CRA) assess creditworthiness of organisation and different entities. In
simple words, these agencies analyze a debtor’s ability to repay the debt and also rate their credit
risk. All the credit rating agencies in India are regulated by SEBI (Credit Rating Agencies)
Regulations, 1999 of the Securities and Exchange Board of India Act, 1992. There are a total of six
credit agencies in India CRISIL, CARE, ICRA, SMREA, Brickwork Rating, and India Rating and
Research Pvt. Ltd.

The top Credit Rating Agencies in India are:

1. Credit Rating Information Services of India Limited (CRISIL)
CRISIL is one of the oldest credit rating agencies in India. It was launched in the country in 1987
following which the company went public in 1993. Headquartered in Mumbai, CRISIL ventured
into infrastructure rating in 2016 and completed 30 years in 2017. CRISIL acquired 8.9% stake in
CARE credit rating agency in 2017. It launched India's first index to benchmark performance of
investments of foreign portfolio investors (FPI) in the fixed-income market, in the rupee as well as
dollar version in 2018. The company’s portfolio includes, mutual funds ranking, Unit Linked
Insurance Plans (ULIP) rankings, CRISIL coalition index and so on.

2. ICRA Limited
ICRA Limited is a public limited company that was set up in 1991 in Gurugram. The company
was formerly known as Investment Information and Credit Rating Agency of India Limited.
Before going public in April 2007, ICRA was a joint venture between Moody’s and several Indian
financial and banking service organisations. The ICRA Group currently has four subsidiaries -
Consulting and Analytics, Data Services and KPO, ICRA Lanka and ICRA Nepal. At present,
Moody’s Investors Service, the international Credit Rating Agency, is ICRA’s largest shareholder.
ICRA’s product portfolio includes rating for - corporate debt, financial rating, structured finance,
infrastructure, insurance, mutual funds, project and public finance, SME, market linked debentures
and so on.

3. Credit Analysis and Research limited (CARE)

Launched in 1993, CARE offers credit rating services to areas such as corporate governance, debt
ratings, financial sector, bank loan ratings, issuer ratings, recovery ratings, and infrastructure
ratings. Headquartered in Mumbai, CARE offers two different categories of bank loan ratings,
long-term and short-term debt instruments. The company also offers ratings for Initial Public
Offerings (IPOs), real estate, renewable energy service companies (RESCO), financial assessment
of shipyards, Energy service companies (ESCO) grades various courses of educational institutions.
CARE Ratings has also ventured into valuation services and offers valuation of equity, debt
instruments, and market linked debentures. Moreover, the company has launched a new
international credit rating agency ‘ARC Ratings’ by teaming up with four partners from South
Africa Brazil, Portugal, and Malaysia. ARC Ratings has commenced operations and completed
sovereign ratings of countries, including India.

4. Brickwork Ratings (BWR)

Brickwork Rating was established in 2007 and is promoted by Canara Bank. It offers ratings for
bank loans, SMEs, corporate governance rating, municipal corporation, capital market instrument,
and financial institutions. It also grades NGOs, tourism, IPOs, real estate investments, hospitals,
IREDA, educational institutions, MFI, and MNRE. Brickwork Ratings is recognised as external
credit assessment agency (ECAI) by Reserve Bank of India (RBI) to carry out credit ratings in
India.

5. India Rating and Research Pvt. Ltd.

India Ratings is a wholly-owned subsidiary of the Fitch Group. It offers credit ratings for insurance
companies, banks, corporate issuers, project finance, financial institutions, finance and leasing
companies, managed funds, and urban local bodies. In addition to SEBI, the company is
recognised by the Reserve Bank of India and National Housing Bank.
6. Small and Medium Enterprises Rating Agency of India (SMERA)
Established in 2005, SMERA is a joint initiative of SIDBI, Dun & Bradstreet India and leading
banks in India. SMERA has joined hands with prominent institutions such as IIT Madras, The
Bangladesh Rating Agency Limited, CAFRAL, CoinTribe, and SIES. Apart from its shareholder
banks, SMERA has also entered into MoUs with over 30 Banks, Financial Institutions and Trade
Associations of the country.