The Securities and Exchange Board of India (SEBI) on July 03, 2023, issued the Master Circular for Credit Rating Agencies
The following has been stated namely: -
• It states that in order to enable the industry and other users to have access to all the applicable circulars and directions in one place this Master Circular for CRAs has been prepared.
• This Master Circular is a collection of existing circulars as of July 03, 2023, with modifications. This master circular details the restrictions contained in various circulars chapter by chapter
• Annexure 1 contains a list of previous circulars for CRAs that have been superseded by this master Circular.
• It further states that Notwithstanding such rescission,-
a. anything done or any action taken or purported to have been done or taken under the rescinded circulars prior to such rescission shall be deemed to have been done or taken under the corresponding provisions of this Master Circular.
b. any application made to the Board under the rescinded circulars prior to such rescission and pending before it shall be deemed to have been made under the corresponding provisions of these regulations.
[Circular No. SEBI/HO/DDHS/DDHS-POD2/P/CIR/2023/ 111]
