LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
14 views
in GK by (54.3k points)
closed by
Credit Rating Agencies in India is regulated by which of the following entities?
1. Ministry of Corporate Affairs
2. Ministry of Finance
3. Securities and Exchange Board of India (SEBI)
4. Reserve Bank of India

1 Answer

0 votes
by (30.0k points)
selected by
 
Best answer
Correct Answer - Option 3 : Securities and Exchange Board of India (SEBI)

The correct answer is Securities and Exchange Board of India (SEBI).

  • All the credit rating agencies in India are regulated by SEBI (Credit Rating Agencies) Regulations, 1999 of the Securities and Exchange Board of India Act, 1992.
  • There are a total of seven credit agencies in India viz, including CRISIL, CARE, ICRA, SMREA, Brickwork Rating, India Rating and Research Pvt. Ltd, and Infomerics Valuation and Rating Private Limited.
  • Credit rating agencies assign ratings to an organization or an entity.
    • The entities that are rated by credit rating agencies comprise companies, state governments, non-profit organizations, countries, securities, special purpose entities, and local governmental bodies.
  • Credit rating agencies take into consideration several factors like the financial statements, level, and type of debt, lending and borrowing history, ability to repay the debt, and the past debts of the entity before rating their credit.
  • Credit ratings are published by agencies like Moody’s Investors Service and Standard and Poor’s (S&P) based on detailed analysis.

RBI (Reserve Bank of India)

  • RBI was founded on 1 April 1935, in Kolkata.
  • HQ in Mumbai.
  • Governor is Shaktikanta Das.
  • The RBI is responsible for implementing monetary and credit policies, issuing currency notes, being a banker to the government, a regulator of the banking system, manager of foreign exchange, and regulator of payment & settlement systems while continuously working towards the development of Indian financial markets.
  • RBI is not a Commercial Bank.
  • RBI was nationalized on 1st January 1949.
  • The First Governor of RBI was Sir Osborne Smith (1935 – 1937).
  • The First Indian Governor of RBI was CD Deshmukh (1943 – 1949).
  • The only Prime Minister who was the Governor of RBI was Manmohan Singh (1982 – 1985).
  • The First women deputy Governor of RBI was KJ Udeshi.

Finance Ministry

  • It deals with taxation, financial legislation, financial institutions, capital markets, center and state finances, and the Union Budget.
  • The current Finance Minister of India is Nirmala Sitharaman (the first female full-time Finance Minister).
  • Liaquat Ali Khan was the first Finance Minister.
  • Independent India’s first Union Budget was presented on 26th November 1947 by Sri. R K Shanmukham Chetty.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...