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Which of the following credit rating agencies was the first to be set up in India?
  • a)
    CRISIL
  • b)
    CARE
  • c)
    ICRA
  • d)
    SMERA
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Which of the following credit rating agencies was the first to be set ...
CRISIL, which stands for Credit Rating Information Services of India Limited, was the first credit rating agency to be set up in India. It was established in 1987 and began operations in 1988. CRISIL was promoted by ICICI Limited, UTI, and other financial institutions. Over the years, CRISIL has grown to become a global analytical company that provides credit ratings, research, and risk and policy advisory services to its clients. It is headquartered in Mumbai and has expanded its operations to several countries. CRISIL has played a significant role in the development of credit rating services in India and has a strong track record of growth and innovation.
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