Page 255 - DMGT512_FINANCIAL_INSTITUTIONS_AND_SERVICES

Financial Institutions and Services

Notes 2. Help clients mitigate and manage their business & financial risks,
3. Help shape public policy.
CRISIL offers domestic and international customers a unique combination of local insights and
global perspectives, delivering independent information, opinions and solutions that help them
make better informed business and investment decisions, improve the efficiency of markets and
market participants, and help shape infrastructure policy and projects. Its integrated range of
capabilities includes credit ratings; research on India's economy, industries and companies;
investment research outsourcing; fund services; risk management and infrastructure advisory
services.

Investment Information and Credit Rating Agency of India (ICRA)

ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited)
was set up in 1991 by leading financial/investment institutions, commercial banks and financial
services companies as an independent and professional Investment Information and Credit
Rating Agency. The international Credit Rating Agency Moody's Investors Service is ICRA's
largest shareholder. The participation of Moody's is supported by a Technical Services Agreement,
which entails Moody's providing certain high-value technical services to ICRA. Specifically, the
agreement is aimed at benefiting ICRA's in-house research capabilities, and providing it with
access to Moody's global research base. Today, ICRA and its subsidiaries together form the
ICRA Group of Companies (Group ICRA). ICRA is a Public Limited Company, with its shares
listed on the Bombay Stock Exchange and the National Stock Exchange.
ICRA information products, Ratings, and solutions reflect independent, professional and impartial
opinions, which assist businesses enhance the quality of their decisions and help issuers access
a broader investor base and even lesser known business entities approach the money and capital
markets.

As an early entrant in the Credit Rating business, ICRA Limited is one of the most experienced
Credit Rating Agencies in the country today. ICRA Rates rupee denominated debt instruments
issued by manufacturing companies, commercial banks, non-banking finance companies,
financial institutions, public sector undertakings and municipalities, among others. ICRA also
Rates structured obligations and sector-specific debt obligations such as instruments issued by
Power, Telecom and Infrastructure companies. The other services offered include Corporate
Governance Rating, Stakeholder Value and Governance Rating, Corporate Governance
Assesment, Credit Risk Rating of Debt Mutual Funds, Rating of Claims Paying Ability of Insurance
Companies, Project Finance Rating, and Line of Credit Rating. ICRA, along with National Small
Industries Corporation Limited (NSIC), has launched a Performance and Credit Rating Scheme
for Small Scale Enterprises in India. The service is aimed at enabling Small and Medium
Enterprises (SMEs) improve their access to institutional credit, increase their competitiveness,
and raise their market standing.
Credit Analysis & Research Limited (CARE)

Credit Analysis & Research Ltd. (CARE Ratings) is a full service rating company that offers a
wide range of rating and grading services across sectors. CARE Ratings methodologies are in
line with the best international practices.
CARE Ratings has completed over 5846 rating assignments having aggregate value of about
16,594 bn (as at March 31, 2009), since its inception in April 1993. CARE is recognised by
Securities and Exchange Board of India (SEBI), Government of India (GoI) and Reserve Bank of
India (RBI) etc.

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