Eligible Credit Rating Agencies

Eligible Credit Rating Agencies- Rating of Fixed Deposits

Reserve Bank of India (RBI) vide Circular No. RBI/2017-18/45 DNBR (PD).CC.No.89/03.10.001/2017-18 dated 14-August-2017 allowed rating agency -  "Infomerics Valuation and Rating Private Limited (IVRPL)" to rate the fixed deposit portfolio of NBFCs  [All Deposit Taking NBFCs (except Residuary Non-Banking Companies)] with IVR BBB as the minimum investment grade credit rating. Now, NBFCs can also use the ratings of Infomerics Valuation and Rating Private Limited (IVRPL).

Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating

(As per para 9 of the Master Direction DNBR. PD.002/03.10.119/2016-17 dated August 25, 2016 on Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions)

Name of the agency	Minimum Investment Grade Credit Rating
(a) The Credit Rating Information Services of India Ltd. (CRISIL)	FA- (FA Minus)
(b) ICRA Ltd.	MA- (MA Minus)
(c) Credit Analysis & Research Ltd. (CARE)	CARE BBB (FD)
(d) Fitch Ratings India Private Ltd.	tA-(ind)(FD)
(e) Brickwork Ratings India Pvt. Ltd. (Brickwork)	BWR FBBB
(f) SME Rating Agency of India Ltd.(SMERA)	SMERA A
(g) Infomerics Valuation and Rating Private Limited (IVRPL)	IVR BBB

Cheers!