Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: list of goods taxed at 4% :: due date for vat payment :: cpt :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: VAT RATES :: VAT Audit :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Latest Circulars »
 RBI imposes penalty on Janata Urban Co-operative Bank Ltd., Wai, District Satara
 Monitoring of Foreign Investment under PIS in Indian Companies- Incorporation in Ban List–M/s HDFC Bank Ltd.
 Reserve Bank of India seeks Comments on Draft Circular on Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
 Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) - Withdrawal of Fortnightly return
 RBI-Foreign Investments in India
  RBI cancels the Licence of the Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra
  Finance Minister meets the Directors of the RBI Central Board
  RBI-Removal of limits on withdrawal of cash from Saving Bank Accounts
 Government of India nominates Dr. Rajiv Kumar, Dr. Ashok Gulati and Shri Manish Sabharwal on RBI Central Board
 RBI cancels the Licence of the Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra
 RBI-Removal of limits on withdrawal of cash from Saving Bank Accounts

Rating of Fixed Deposits of NBFCs- Eligible Credit Rating Agencies- SME Rating Agency of India Ltd. (SMERA)
September, 26th 2014

RBI/2014-15/243
DNBS (PD).CC.No.410/03.10.001/2014-15

September 25, 2014

All Deposit Taking Non-Banking Financial Companies
(except Residuary Non-Banking Companies)

Dear Sirs,

Rating of Fixed Deposits of NBFCs- Eligible Credit Rating Agencies- SME Rating Agency of India Ltd. (SMERA)

Please refer to Para 4 of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998, wherein, names of the Credit Rating Agencies approved by Reserve Bank of India are given. In this connection, the Bank has received request from SME Rating Agency of India Ltd. (SMERA) seeking accreditation as ‘approved credit rating agency’ for the purpose of rating fixed deposits of NBFCs, which the Bank has acceded to.

2. Accordingly, NBFCs may also use the ratings of SMERA for the purpose of rating their Fixed Deposits. The Minimum Investment Grade Rating for Fixed Deposits is “SMERA A”.

3. Notification issued in this regard DNBS(PD)278/PCGM(KKV)-2014, dated September 25, 2014 is enclosed for meticulous compliance.

Yours faithfully,

(K. K. Vohra)
Principal Chief General Manager


RESERVE BANK OF INDIA
DEPARTMENT OF NON-BANKING SUPERVISION
CENTRAL OFFICE
CENTRE I, WORLD TRADE CENTRE,
CUFFE PARADE, COLABA,
MUMBAI 400 005.

DNBS(PD)278/ PCGM (KKV)-2014, dated September 25, 2014

The Reserve Bank of India, having satisfied that, in the public interest, and to enable the Bank to regulate the financial system of the country to its advantage, it is necessary to amend the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998, in exercise of the powers conferred by Sections 45J, 45JA, 45K and 45L of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said directions contained in Notification No.DFC.118/DG(SPT)-98 dated January 31, 1998 shall stand amended with immediate effect as follows, namely -

Amendment of paragraph 4 -

In paragraph 4, sub-paragraph (1), clause (ii), in the table, after item (e), the words, SME Rating Agency of India Ltd. (SMERA) shall be added in the name of the agency and ‘SMERA A’ under Minimum Investment Grade Rating.

(K K Vohra)
Principal Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Wholesale Silver Jewelry

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions