Rating Agencies
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For India's $5 trillion dream to materialise, high quantity investments are in order; govt must acknowledge this reality
Dinesh Unnikrishnan123 •For India to reach the $5 trillion economy target, it needs to grow at 9 percent per annum, which is out of the question now
Moody’s lowers India’s outlook to ‘negative’ from ‘stable’: Fundamentals of economy remain robust with inflation under check, says FinMin
Fp Staff •As India’s potential growth rate remains unchanged, assessment by IMF and other multilateral organizations continue to underline a positive outlook on India, FinMin said in a statement
Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar
•The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders
SEBI board approves tighter norms for full disclosure on loan defaults with rating agencies
•Amid concerns over banks citing 'client confidentiality' to resist sharing of information on delayed loan repayments and possible defaults by their borrowers, capital market regulator SEBI on Wednesday announced new norms to make it mandatory for companies to provide these details to credit rating agencies
SEBI mulls slew of reforms; tighter check on rating agencies, reward and hotline for informants
•With an aim to further safeguard investors' interests and to take defaulters to the task, capital market regulator SEBI is planning to unveil a slew of reforms, including for greater checks on credit rating agencies and for rewarding informants in insider trading cases with up to Rs 1 crore reward
IL&FS crisis: ICRA, CARE question Grant Thornton's report on cash-strapped infrastructure lender
•Rating agency CARE on Monday claimed that the interim report by Grant Thornton's on IL&FS Group "misses" some rudimentary elements of the process of credit rating
IL&FS case: SEBI widens investigation into role of rating agencies; looks into possible systemic lapses at all five rating agencies
•Grant Thornton said it identified multiple e-mails over the period from 2008 to 2018 which indicate that the IL&FS group was under stress or faced liquidity issues since 2015.
IL&FS mess: From tickets for Real Madrid match to watches and shirts, gifts doled out to rating agencies, reveals interim report
•The mandate was to audit the role of the credit rating agencies and ascertain whether there were any possible wrong-doings in rating IL&FS group companies during 2008-2018.
DHFL demise imminent just like debt-ridden IL&FS: India’s regulators, raters failed to catch early signs of NBFC mess
Dinesh Unnikrishnan123 •In the case of both IL&FS and DHFL, rating agencies stepped in the last minute to call out the nature of stress in these firms and warn investors
Housing lender DHFL fears it may not continue as a going concern; posts loss of Rs 2,223 cr in Q4
•DHFL is in an advanced stage of submitting its resolution process under the inter-creditor agreement as entered into by banks.