Central
CIRCULAR REGARDING INTRODUCTION OF EXPECTED LOSS (EL) BASED RATING SCALE AND STANDARDIZATION OF RATING SCALES USED BY CREDIT RATING AGENCIES (DATED - 16.07.2021)
The CRAs shall ensure compliance with the requirements of this circular, latest by March 31, 2022 and also place the compliance status of this circular before their Board of Directors. Further, the CRAs are advised to confirm compliance of this circular to SEBI latest by April 15, 2022. All the provisions of this circular are applicable with immediate effect except Section B above which comes into effect from April 01, 2022.
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