NBFCs can use ratings of IVRPL: RBI

The Reserve Bank today said NBFCs can use the ratings of Infomerics Valuation and Rating Private Limited (IVRPL) for the purpose of rating the fixed deposit portfolios.

With the addition of IVRPL, the number of rating agencies for Non-Banking Financial Companies (NBFCs) has increased to seven.

The other agencies are -- Credit Rating Information Services of India (CRISIL), ICRA, Credit Analysis and Research (CARE), Fitch Ratings India, Brickwork Ratings India and SME Rating Agency of India.

No NBFC having net owned fund of Rs 25 lakh and above can accept public deposit unless it has obtained minimum investment grade or other specified credit rating for fixed deposits from any one of the approved credit rating agencies at least once a year.

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