Consider the following statements:

  1. In India, credit rating agencies are regulated by Reserve Bank of India.
  2. The rating agency popularly known as ICRA is a public limited company.
  3. Brickwork Ratings is an Indian credit rating agency.

Which of the statements given above are correct?

[UPSC Civil Services Exam – 2022 Prelims]

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3


Answer: (b)        

Explanation:

  • Credit Rating Agencies (CRA) are entities that assess the creditworthiness of debt issuers and their credit risk. The ratings provided by these agencies are used by investors to evaluate the risk associated with investing in debt securities issued by the issuers.
  • In India, all credit rating agencies are regulated by SEBI (Credit Rating Agencies) Regulations, 1999 under the Securities and Exchange Board of India Act, 1992. Hence, Statement 1 is incorrect.
  • There are six credit rating agencies in India which are CRISIL, CARE, ICRA, SMREA, Brickwork Rating, and India Ratings and Research Pvt. Ltd.
  • ICRA Limited is a publicly listed company that was established in Gurugram in 1991. Hence, Statement 2 is correct.
  • The company was formerly known as Investment Information and Credit Rating Agency of India Limited.
  • Brickwork Ratings – It is recognized as an external credit assessment agency (ECAI) by the Reserve Bank of India (RBI) to carry out credit ratings in India. Hence, Statement 3 is correct.

Consider the following statements:                                                                   The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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Consider the following statements:                                                         The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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