Guidelines for Credit Rating Agencies

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....e which is engaged in the business of rating of securities offered by way of public or rights issues. The term "securities" has been defined in Clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956. 2. However it is observed that the CRAs registered with SEBI also carry out rating of other securities / instruments and loans / facilities provided by banks which are not regulat....