Amendments to SEBI Credit Rating Agencies Regulations: The amendments include substituting a reference in the definition of “group company,” defining “subscriber- pays business model” for ESG rating providers, and clarifying the scope of ESG rating activities under other financial sector regulators. It also introduces specific obligations for ESG rating providers following a subscriber-pays model. It also mandate that ESG rating providers share the rating report simultaneously with subscribers and the rated entity, allowing two working days for comments. Any comments received must be included in an addendum to the report. (SEBI Notification Dated 22/04/2025)