Q63 · UPSC Prelims 2022 · Set A · Economy

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Consider the following statements:1.In India, credit rating agencies are regulated by Reserve Bank of India.2.The rating agency popularly known as ICRA is a public limited company.3.Brickwork Ratings is an Indian credit rating agency.Which of the statements given above are correct

A 1 and 2 only
B 2 and 3 only
C 1 and 3 only
D 1, 2 and 3

Correct answer: (b) 2 and 3 only

Explanation

  1. A

    1 and 2 only

    1 and 2 only. Credit-rating agencies for securities are SEBI-regulated, not RBI.

  2. B

    2 and 3 only

    2 and 3 only. ICRA is a listed public limited company; Brickwork is an Indian CRA. RBI is the wrong regulator for this market.

  3. C

    1 and 3 only

    1 and 3 only. Statement 1 fails.

  4. D

    1, 2 and 3

    All three. SEBI, not RBI, is the CRA regulator under the 1999 regulations.

Summary. Official key is (b) 2 and 3 only. SEBI regulates credit rating agencies. ICRA is a public limited company. Brickwork Ratings is an Indian CRA. RBI regulates banks, not this CRA window.

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