Credit Rating reflects the payback abilities of individuals or companies. Indian credit rating industry mainly comprises of CRISIL, ICRA, FITCH, CARE, ONICRA, and SMERA. A few years back Economic Survey had criticized the methodologies adopted by credit rating agencies. This article has given brief information about well-known credit agencies.
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- This full-service rating agency is the major credit rating agency in India, with a market share of more than 60%.
- It is offering its services in financial, manufacturing, service, and SME sectors.
- The headquarter of CRISIL is in Mumbai
- The majority stake of CRISIL was held by the world’s largest rating agency Standard & Poor’s.
Credit Analysis and Research Limited Ratings (CARE) Ratings
- Credit Analysis and Research Limited Ratings was established in 1993.
- It is supported by Canara Bank, Unit Trust of India (UTI), Industrial Development Bank of India (IDBI), and other financial and lending institutions.
- This is considered as the second-largest credit rating company in India.
- The headquarter of Credit Analysis and Research Limited Ratings is in Mumbai
Small and Medium Enterprises Rating Agency (SMERA)
- It is a rating agency entirely created for the rating of Small Medium Enterprises.
- It is a joint enterprise by SIDBI, Dun & Bradstreet Information Services India Private Limited (D&B), and some chief banks in India.
- The headquarter of SMERA is in Mumbai
- It has accomplished 7000 ratings.
ONICRA Credit Rating Agency
- It was incorporated by Mr. Sonu Mirchandani in 1993
- It investigates data and arranges for possible rating solutions for Small and Medium Enterprises and Individuals.
- The headquarter of ONICRA Credit Rating Agency is located in Gurgaon
- It has a broad experience in performing a wide range of areas such as Accounting, Finance, Back-end Management, Analytics, and Customer Relations. It has rated more than 2500 SMEs.
Fitch (India Ratings & Research)
- Fitch Ratings is a global rating agency dedicated to providing the world’s credit markets with independent and prospective credit opinions, research, and data.
- The headquarter of Fitch Ratings is in Mumbai.
- It was created in 1991 by prominent financial institutions and commercial banks in India with a devoted crew of experts for the MSME sector
- Moodys, which is considered as the International credit rating agency holds the major share.
The above details would help candidates prepare for UPSC 2020.
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