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of SEBI modified timelines in Master Circular for Credit Rating Agencies (CRAs) to promote ease of doing business. Key changes are publication of press release within 7 working days of rating action, conducting rating review within 2 working days of receipt of delayed payment statement, tagging ratings as INC within 5 working days of 3 consecutive non-submission of no-default statements, following up with issuer within 2 working days if no confirmation received from debenture trustee on debt servicing. The circular is effective immediately under SEBI Act, 1992 and CRA Regulations.
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