Credit rating is increasingly a requirement for debenture issues, fixed deposits and commerical paper issues. At present, there are three credit rating agencies: CRISIL (Credit Rating and Information Services India Ltd.), ICRA (Investment Information and Credit Rating Agency of India), and CARE (Credit Analysis and Research). CRISIL was set up in 1988, ICRA in September 1991 and CARE in 1993.
Centre for Monitoring Indian Economy, Bombay
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Last updated: May 1995.