CURRENT AFFAIRS

2022

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Credit rating agencies require to report to SEBI their compliance with norms as ratified by their boards of directors within how many months from the date of applicability?

A	3 months
B	2 months
C	1 month
D	9 months

Explanation:

Detailed explanation-1: -Now, with this new guideline coming into effect from January 1, 2023, CRAs will have to report on their compliance as ratified by their respective board of directors to Sebi within one quarter from the date of applicability of the circular.

Detailed explanation-2: -There are seven credit rating agencies in India including CRISIL, ICRA, CARE, India Ratings and Research Pvt Ltd, Acuite Ratings & Research, Brickwork Ratings India Pvt.

Detailed explanation-3: -The rating is placed on notice of withdrawal for a period of 3 years, after which the rating is withdrawn. In case the instrument/facility is not placed by the issuer, the ratings can be withdrawn on receipt of request for withdrawal from the issuer.

Detailed explanation-4: -Pursuant to the consultation with the CRAs, standardised symbols and their definitions have been devised for issuer rating or corporate credit rating, the Securities and Exchange Board of India (Sebi) said in a circular, adding that the new guidelines will come into force from January 1, 2023.

There is 1 question to complete.