Promoter eligibility for credit rating agency registration requires specified institutional promoters and sustained net worth and experience. Regulation 4 requires that an application for registration as a credit rating agency be promoted by one of specified categories: a public financial institution; a scheduled commercial bank; a foreign bank with RBI approval; a foreign credit rating agency recognised in an FATF member jurisdiction with at least five years' rating experience; or a company/body corporate with continuous audited net worth of at least one hundred crores for the five years prior to application.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Promoter eligibility for credit rating agency registration requires specified institutional promoters and sustained net worth and experience.
Regulation 4 requires that an application for registration as a credit rating agency be promoted by one of specified categories: a public financial institution; a scheduled commercial bank; a foreign bank with RBI approval; a foreign credit rating agency recognised in an FATF member jurisdiction with at least five years' rating experience; or a company/body corporate with continuous audited net worth of at least one hundred crores for the five years prior to application.
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