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<h1>SEBI Sets New Standards for Credit Rating Agencies: Transparency, Accountability, and Standardization Required Within 60 Days.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) outlines enhanced standards for Credit Rating Agencies (CRAs). It mandates CRAs to implement guidelines for transparency, accountability, and standardization within 60 days. Key areas include formulation and disclosure of rating criteria, accountability of analysts, standardized press releases, functioning of rating committees, and policies for non-cooperation by issuers. It also emphasizes internal audits, specifying auditor eligibility, rotation, and audit scope. CRAs must disclose ratings even if not accepted by issuers and address non-cooperation in rating agreements. The circular aims to protect investors and regulate the securities market.