The Reserve Bank of India (RBI) has clarified the eligibility criteria for Credit Rating Agencies (CRA) under the Basel III Capital Regulations.
Under the revised guidelines, banks can obtain fresh ratings from Brickwork Ratings India Private Limited for loans not exceeding Rs. 250 crore. Additionally, the CRA will continue to conduct rating surveillance for existing ratings throughout the residual tenure of such loans. However, for working capital facilities exceeding Rs. 250 crore, the CRA will undertake rating surveillance only until the next renewal by the banks.
It is important to note that these adjustments do not alter other provisions outlined in the Master Circular concerning external credit ratings.