Resources for Basel II Capital Accord (Basel II)
Basel II norms bring in bonanza for rating agencies
www.financialexpress.com The implementation of Basel II has provided a huge bonanza for the rating agencies in the country. All the four agencies Crisil, ICRA, Care and Fitch have witnessed substantial acceleration in their core activities since the Reserve Bank of India (RBI) has asked Indian banks to go for ratings of their loans by an independent rating agency.
“With Basel II kicking off, there has been a significant rise in our activities. Corporates have rushed in to get themselves rated with the agency. We can say that the numbers have almost doubled since the RBI had come out with the notification. Infact, we saw the numbers doubling at the end of the first year itself, since the notification was out,” pointed out Amit Tandon, MD of Fitch Ratings.
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