CRAS

Corporate debt investing in 2025: Why AAA bonds are still a top pick, Vishal Goenka decodes
In 2025, AAA-rated corporate bonds remain a top investment choice for stability and predictable returns in a volatile market. Vishal Goenka highlights their low default risk, moderate yields, and appeal in a stabilizing interest rate environment, emphasizing due diligence before investing.

RBI cheque clearing, IRCTC ticket reservation, NPS equity: Major rule changes applicable from October 1, 2025
October 1, 2025, will usher in significant changes across India's banking, postal, and railway sectors. HDFC Bank revises Imperia customer criteria, while PNB and YES Bank update various service charges. India Post increases Speed Post tariffs, introducing new features. RBI transitions to continuous cheque clearing from October 4.

100% equity in NPS: More flexibility and tailored choices, but experts advise caution
The reform unlocks fresh flexibility and tailored choices, but be prepared for market swings and stay disciplined for the long haul to achieve significant gains.

PFRDA revises CRA maintenance charges for NPS, NPS-Vatsalya, UPS, APY account holders; know how much you need to pay now
Latest NPS charges: The PFRDA is set to revise charges for services provided by CRAs to subscribers of pension schemes like NPS and APY, effective October 1, 2025. These revised charges will apply to both online and offline account maintenance, with different rates for government and private sector subscribers.

100% equity in NPS to be allowed from October 1, 2025, for these investors
From October 1, 2025, non-government NPS subscribers will gain more options for diversifying their investments within NPS. They can allocate up to 100% of funds in equities within a single NPS scheme. The Multiple Scheme Framework (MSF) will allow subscribers to have multiple schemes under one PRAN. Each scheme will have moderate and high-risk variants. Pension funds can also design schemes for specific subscriber groups.

Sebi may allow CRAs to rate unlisted securities
SEBI has proposed allowing credit rating agencies (CRAs) to rate financial products regulated by other financial sector regulators, even without specific guidelines from those regulators. CRAs must establish a separate unit within six months, maintaining a strict firewall from their SEBI-regulated activities. This move aims to leverage synergies and address industry gaps, requiring upfront disclosures to clients about unregulated activities.
- Go To Page 1
Sebi mulls allowing CRAs to rate instruments outside its regulatory purview
Markets watchdog Sebi on Wednesday proposed permitting credit rating agencies (CRAs) to undertake the rating of financial instruments that may come under other financial sector regulators, even if they have not issued any rating-related guidelines.
Credit rating firms seek govt intervention over regulatory void on ₹1 L cr unlisted debt
Credit rating agencies are seeking clarity from the corporate affairs and finance ministries regarding the rating of over ₹1 lakh crore in unlisted securities, including corporate bonds and securitized papers. A regulatory gap exists between SEBI and RBI, creating uncertainty for CRAs.
Sebi comes out with composition of internal audit team for CRAs
Markets regulator Sebi on Wednesday expanded the list of eligible professionals who can be part of the internal audit team for Credit Rating Agencies (CRAs), making it more inclusive. Earlier, the internal audit team for CRAs was required to include a Chartered Accountant (ACA/FCA), and a Certified Information Systems Auditor (CISA) or someone with a Diploma in Information System Audit (DISA).
Sebi asks CRAs to verify issuers' funds availability, escrow payments in certain cases
These additional guidelines have been introduced to address scenarios of non-payment of debt (principal or interest) caused by factors beyond the issuer's control.
Sebi proposes guidelines for credit rating agencies to include detailed reasons for rating actions
Markets regulator Sebi on Thursday proposed guidelines for credit rating agencies (CRAs) to include detailed reasons for rating actions, especially in cases of default and upgrades of default ratings. In its consultation paper, the regulator has recommended removing "technical default" from policies due to potential negative market signals and covenant triggers.
Can a collaborative approach break the credit rating impasse?
The GSDR report sheds light on ongoing discussions with Credit Rating Agencies (CRAs) regarding their approach to various debt restructuring options. It underscores the need to find ways to better integrate CRAs into the debt relief process paving the way for sustainable solutions for LMICs.
Banks open to exploring a pact on sharing default info with rating firms
For the first time, leading banks have said they are willing to explore an arrangement for sharing some information on corporate defaults with rating companies. At a meeting last week, officials of some of the large state-owned and private sector banks told CRAs that they are open to the idea and would await the agencies to suggest a format for sharing information, a person familiar with the discussion told ET.
RBI asks rating agencies details of cos hiding info used for credit assessment
Rating agencies either rely on publicly available data or withdraw the rating of such borrowers who refuse to disclose financials and other information.
Sebi tweaks operational framework on credit rating agencies
At the time of withdrawal of any credit rating of securities that are listed on a stock exchange, the CRA would have to assign a rating to such security and issue a press release in a prescribed format, except in cases where there are no outstanding obligations under the security rated by the CRA or the company whose security is rated is wound up or merged or amalgamated with another firm
Not satisfied with your NPS account recordkeeper? You can change your CRA now
Pension Fund Regulatory and Development Authority (PFRDA) has allowed an individual to open NPS account with any of three central record-keeping Agency (CRAs). However, it may happen that an individual is not satisfied with the current CRA. Read on to know what is the process of changing CRA from one to another.
Sebi rolls out framework for credit rating agencies
These disclosures are unsupported ratings without factoring in the explicit credit enhancement or specified support considerations and supported rating after factoring in the explicit credit enhancement.
Sebi asks rating companies for policy on non-rating units
Such disclosures need to be updated by the CRA on the first working day of each month. The disclosure should include a reference to the date it was last updated by the CRA, along with a reference or hyperlink to archives of previous such disclosures.
Sebi enhances disclosure norms for rating companies
The regulator has mandated CRAs to frame detailed guidelines on what constitutes non-cooperation by issuers, which includes non-submission of quarterly financial results within prescribed timelines, current and past operational details about capex plans, debt obligations and repayment details, among others, and any other issue felt appropriate by a credit rating agency as per its internal assessment.
Sebi introduces expected loss-based rating scale for rating agencies
The new scale will be used by the credit rating agencies for ratings of projects or instruments associated with infrastructure sector to begin with, Sebi said in a circular on Friday.
Coronavirus outbreak: Sebi relaxes guidelines for default recognition by rating agencies
The markets regulator said it felt a need for temporary relaxations in compliance by CRAs in view of the developments arising due to Covid-19 pandemic
View: Why it is high time to review credit rating agencies regulation
Credit ratings are driven mainly by directives from the Basel-3-based regulations, rather than customer need. That is a primary cause of the repeated failures of the CRAs worldwide.
Rating agencies play critical role in providing stability to financial sector: RBI Governor
CRAs have off late come under criticism for failing to timely identify the stressed assets of IL&FS, which saw a series of defaults in loan repayments.
Parliamentary panel on finance seeks inquiry commission into IL&FS crisis
The parliament panel has specifically sought an investigation into the role of rating agencies (CRAs) and Life Insurance Corporation.
Sebi issues tighter norms for credit rating agencies
Press release of credit rating agencies would now include a specific section on “liquidity”.
Not happy with state of affairs at rating agencies: Sebi chief
We are bringing out a discussion paper within a month, Ajay Tyagi said.
Stricter norms for ATM cash handling companies likely: IBA
Robberies involving cash vans has made the Indian Banks Association come out with minimum eligibility criteria for cash replenishment agencies.
Infra, robust economy to boost credit-rating biz in 10 yrs: SEBI
SEBI has said credit rating agencies are likely to witness surge in coming decade on economic growth & large investments.
Finmin panel for overhaul of rating cos
Credit rating agencies (CRAs) may come under the ambit of RBI and Insurance Regulatory and Development Authority (Irda) if proposals from a finance ministry panel are accepted.
Load More