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RBI-Change of Name of SME Rating Agency of India Limited to SMERA Ratings Limited (SMERA)
October, 20th 2013

RBI/2013-14/326
DBOD.BP.BC.No.59/21.06.007/2013-14

October 17, 2013

The Chairman and Managing Director/The Chief Executive Officer
All Scheduled Commercial Banks
(Excluding Local Area Banks and Regional Rural Banks)

Dear Sir,

Change of Name of SME Rating Agency of India Limited to 
SMERA Ratings Limited (SMERA)

Please refer to the Master Circular No. DBOD.No.BP.BC.9/21.06.001/2012-13 dated July 1, 2013 on 'Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequacy Framework (NCAF)' and Master Circular DBOD.No.BP.BC.2/ 21.06.201/2013-14 dated July 1, 2013 on Basel III Capital Regulations.

2. In terms of paragraph 6 of the said circulars, M/s. SME Rating Agency of India Limited has been accredited for the purpose of risk weighting the banks' claims for capital adequacy purposes along with other credit rating agencies (CRAs). The agency has now changed its name to SMERA Ratings Limited. The Securities and Exchange Board of India (SEBI) has issued the necessary Certificate of Registration on August 14, 2013. Accordingly, reference to ‘SME Rating Agency of India Ltd.’ in paragraph 6 of the said circulars is revised to read as ‘SMERA Ratings Limited’. There is no change in the rating symbols of the CRA subsequent to change in name.

3. All other provisions regarding external credit ratings of the master circulars remain unchanged.

Yours faithfully,

(Chandan Sinha)
Principal Chief General Manager

 
 
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