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November 25, 2016

Banking Awareness in Simple Language - Lesson 21

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Dear Gr8 Ambitionists, in our previous Banking Awareness Lesson 20, we have learnt about Important Banking Acts. In today's lesson, we shall learn Important Credit Rating Agencies in India. Happy Reading :)

Banking Awareness 2016 : Credit Rating Agencies in India


CIBIL (Credit Information Bureau India Ltd.) : 
  • Head office : Mumbai 
  • Established in : 2000 
  • It is India's first credit Information Company (CIC).  
  • CIBIL collects and maintains records of an individual's payments pertaining to loans and credit card and these records are submitted by member banks and credit institutions on Monthly basis which help loan providers by providing credit history of a person. Thus it plays an important role in Indian financial system. 
  • Note : CIBIL transunion score normally ranges between 300 and 900. 
CRISIL Ltd. (Credit Rating Information Services of India Ltd) : 
  • Head office : Mumbai 
  • Establishment : 1987 
  • It is India's largest & first credit Rating agency and a global leader in research, ratings, risk & policy advisory services. 
  • CRISIL is the largest credit rating agency in India with a market share of greater than 60%
Fitch Rating India Private Ltd :
  • Head office : New York, USA 
  • Establishment : 1913 
  • Fitch Ratings, a fitch group company is among the top credit rating agencies in India incorporated in 1913 in New York, USA. Fitch rating provides financial information services in more than 30 countries. 
Equifax :
  • Head office : Atlanta, United States 
  • Establishment : 1899 Equifax Inc has managed to be among the top credit rating agencies in India and at global level. Equifax Inc Provides Information Management Services.
CARE (Credit Analysis & Research Ltd.) :
  • Head office : Mumbai 
  • Establishment : 1993 
  • CARE Ratings is second largest among the credit rating agencies as far as Indian Origin Company is concerned. 
  • Its rating is authenticated by GOI, RBI, SEBI. CARE was registered by SEBI as per SEBI regulation 1999. 
ICRA (Information and Credit Rating Agency) :
  • Head office : Gurgaon 
  • Establishment : 1991 
  • It was originally named IICRA (Investment Information & Credit Rating Agency)
  • It is the 2nd largest Indian rating company in term of customer base. 
  • ICRA Ltd. is a joint venture between Moody's Investors and various financial serviced company is a part of ICRA group which was founded in 1991. 
  • It is credit rating agency listed on the NSE & BSE. 
  • ICRA has 6 subsidiaries ICRA management Consulting Services Ltd, ICRA Techno Analytics Ltd, ICRA online Ltd, Pt. ICRA Indonesia & ICRA Lanka Ltd, ICRA Nepal Ltd. 
ONICRA :
  • Head office : Gurgaon 
  • Establishment : 1993 
  • It is a credit and Performance Rating Company. 
  • ONICRA is among the top 10 credit rating agencies in India. 
High Mark Credit Information Services :
  • Head office : Mumbai 
  • Establishment : 2005 
  • It is a recognized credit rating company in India. It provides bureau service, analytic solutions and risk management to banks and financial instituions operating in Micro-Finance, Retail Consumer Finance, MSME, Rural & Co-operative Sectors. 
Experian :
  • Head office : Dublin, Republic of Ireland
  • Founded : 1996 
  • In India Experian is a joint venture with Indian Bank, Axis Bank, Federal Bank, Punjab National Bank. Magna Finance, Union Bank of India, Sundaram Finance and it provides credit information services to financial institutions in accordance with CICRA (Credit Information Companies Regulation Act) act 2005. 
  • Experian Credit Information Company of India private Ltd. became first credit information company to be awarded a license under (CICRA) Act 2005. 
SMERA (SME Rating Agency of India Ltd.) :
  • Head office : Mumbai
  • Establishment : 2005
  • SMERA Rating Ltd. a Mumbai based company. 
  • SMERA a joint venture of SIDBI, several private sector banks in the country and Dun & Bradstreet Information Services India Pvt. Ltd. (D & B). 
  • SMERA is specially design for rating SME. It is the 1st rating agency that focuses on Indian MSME segment. 
Brickwork Ratings India Private Ltd. :
  • Head office : Bengaluru, Karnataka 
  • Establishment : 2007 
  • The company is registered with SEW, RIM & NSIC and operates in wide range of areas such as NDD, Bank loan, Commercial paper, MSME Ratings. 
  • It is among the leading credit rating companies in India. 
Leading Credit  Rating Agencies in World 
  • Standard & Poor's (S & P) : New York, US (Headquarter) 
  • Moody's : New York, US (Headquarter) 
  • Fitch : New York, US (Headquarter) & London (UK) Headquarter 
Note : These are also called Big 3 credit rating agencies and hold approximate 95% of credit rating business.
    That's all for now friends. In our next Banking Awareness lesson, we shall learn about some Latest Banking Concepts. Happy Reading :)
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