Q. Consider the following statements:
1. In India credit rating agencies are regulated by the Reserve Bank of India.
2. The rating agency popularly known as ICRA is a public limited company.
3. Brickwork Ratings is an Indian credit rating agency.
Which of the statements given above are correct?
Exp: Option b is the correct answer.
Statement 1 is incorrect: Credit Rating Agencies form an essential part of the financial markets. They are regulated by SEBI and not by RBI under the powers derived from the Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.
Statement 2 is correct: ICRA Limited was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional investment Information and Credit Rating Agency. ICRA is a Public Limited Company, with its shares listed on the Bombay Stock Exchange and the National Stock Exchange.
Statement 3 is correct: Brickwork Ratings (BWR) is a SEBI registered Indian Credit Rating Agency. It has also been accredited by RBI offers rating services on Bank Loans, NCD, Commercial Paper, Fixed deposits, Securitized paper, Security receipts etc.
Source: https://www.sebi.gov.in/sebi_data/faqfiles/oct-2021/1634902664371.pdf
