June 13, 2017

RBI issued a circular stating that banks may also use the ratings of the INFOMERICS Valuation and Rating Pvt Ltd. for risk-weighting the bank claims for capital adequacy purposes. This is in addition to the six domestic credit rating agencies that had been already accredited for this purpose. This circular is titled, "Prudential Guidelines on Capital Adequacy and Market Discipline—New Capital Adequacy Framework (NCAF)—Eligible Credit Rating Agencies."

The six domestic credit rating agencies that have been already accredited for risk-weighting the bank claims for capital adequacy purposes are Credit Analysis and Research Limited, CRISIL Limited, India Ratings and Research Private Limited (Fitch India), ICRA Limited, Brickwork Ratings India Pvt. Limited, and SMERA Ratings Ltd. As per the standardized approach under the Basel II Framework, the long-term and short-term ratings issued by these six domestic credit rating agencies and INFOMERICS Valuation and Rating Pvt Ltd. have been mapped to the appropriate risk-weights applicable.

Keywords: Asia Pacific, India, RBI, Banking, Credit Ratings, CRA, Capital Adequacy, Risk Weights

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