The Bombay Stock Exchange (BSE) on November 22, 2024, notified regarding the amendment to Para 15 of the Master Circular for Credit Rating Agencies (CRAs) dated May 16, 2024.
As per said circular, CRAs are required to furnish the details of their clients, i.e. the issuers, pertaining to amount of payment (principal and/ or interest) failed, reason for failure of payment and other details in prescribed format as mentioned in the said circular on the same day as the dissemination of the rating Press Release on the CRA’s website.
Accordingly, the term "technical default" is omitted from Para 15.3 of the Master Circular and the said para stands modified.
The circular shall be applicable with immediate effect.
[Circular No. 20241122-1]
