Basel III Capital Regulations – Eligible Credit Rating Agencies

Reserve Bank of India

RBI/2022-23/162
DOR.STR.REC.94/21.06.008/2022-23

January 09, 2023

All Scheduled Commercial Banks
(including Small Finance Banks)
(excluding Local Area Banks, Payments Banks and Regional Rural Banks)

Dear Sir/ Madam,

Basel III Capital Regulations – Eligible Credit Rating Agencies

Please refer to paragraph 6.1.2 of the Master Circular DOR.CAP.REC.3/21.06.201/2022-23 dated April 01, 2022 on Basel III Capital Regulations, wherein the list of domestic credit rating agencies accredited for the purpose of risk weighting banks’ claims for capital adequacy purposes has been prescribed.

2. On a review, banks are advised to use the ratings of the following domestic credit rating agencies (arranged in alphabetical order) for risk weighting their claims for capital adequacy purposes:

a. Acuite Ratings & Research Limited (Acuite)

b. Credit Analysis and Research Limited (CARE);

c. CRISIL Ratings Limited;

d. ICRA Limited;

e. India Ratings and Research Private Limited (India Ratings); and

f. INFOMERICS Valuation and Rating Pvt Ltd. (INFOMERICS)

3. A reference is also invited to the Press Release: 2022-2023/1033 dated October 12, 2022 in terms of which, Regulated Entities/ Market Participants were advised that in respect of ratings/credit evaluations required in terms of any guidelines issued by the Reserve Bank, no such fresh ratings/evaluations shall be obtained from Brickwork Ratings India Private Limited. Banks shall continue to be guided by the press release ibid till further review.

4. All other provisions regarding external credit ratings stipulated in the Master Circular ibid remain unchanged.

Yours faithfully,

(Manoranjan Mishra)
Chief General Manager