Banking Awareness: Credit Rating Agencies in India

A credit rating agency is a company which rates the ability of a debtor to pay back the debt ( Principle and Interest)  in timely manner. They give ratings to  large scale borrowers, be it companies or governments. The three big credit agencies in the world are : Standard and Poor’s (S&P), Moody’s and Fitch Ratings and there are mainly four largest credit rating agencies in India namely: CRISIL, ICRA, CARE, ONICRA. In this article, we will discussing about the credit rating agencies of India.

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Credit Rating and Information Services of India Limited (CRISIL)

CRISIL is India’s first credit rating agency which was incorporated and promoted by the erstwhile ICICI Ltd, along with UTI and other financial institutions in 1987 and  in 1988 it commenced its operations. It head office is located in Mumbai. It is India’s top most rating agency and   provider of  data and research, analytics and solutions, with a strong track record of growth and innovation. CRISIL provides independent opinions and efficient solutions. CRISIL’s operate its businesses  from 8 countries including USA, Argentina, Poland, UK, India, China, Hong Kong and Singapore. Standard & poor’s one of world’s largest credit rating agency is the largest shareholder. It works with governments and policy-makers in India along with other emerging markets in the infrastructure domain.

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Investment Information and Credit rating agency (ICRA)

ICRA is one of  largest credit rating agency in India. It incorporated in India  in 1991. It was initially set up as an independent and professional investment information and credit rating agency  by leading financial/investment institutions, commercial banks and financial services companies. ICRA is a public limited company. Its  head office is located  in New Delhi. Moody’s is the majority shareholder in ICRA.

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Credit Analysis & Research Ltd. (CARE)

CARE is another credit rating agency. It was  set up  in 1993. Currently, CARE  is the second-largest credit rating agency in India. It  head office is located in Mumbai. It’s Ratings is one of the 5 partners of an international rating agency called ARC Ratings.

Onida Individual Credit Rating Agency of India (ONICRA)

ONICRA is a private sector agency. It was set up by Onida Finance. Its head office is located in Gurgaon. ONICRA provides ratings, risk assessment and analytical solutions to Individuals, MSMEs and Corporates. Currently, ONICRA is one of only 7 agencies licensed by NSIC (National Small Industries Corporation) to rate SMEs. It has its officer in 125 location in pan India.

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