{"id":1830,"date":"2025-07-18T10:09:21","date_gmt":"2025-07-18T10:09:21","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=1830"},"modified":"2025-07-18T10:09:23","modified_gmt":"2025-07-18T10:09:23","slug":"sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/","title":{"rendered":"SEBI Consultation Paper Dated 09\/07\/2025 &#8211; Measures for regulation of activities of Credit Rating Agencies (CRAs)"},"content":{"rendered":"\n<p>Currently, CRAs are primarily limited to rating listed or proposed-to-be-listed securities or instruments under the specific guidelines of other financial sector regulators (FSRs). SEBI proposes allowing CRAs to undertake rating of non-regulated financial products or instruments\u00a0\u00a0such as unlisted securities under specific conditions. These conditions include compliance with the respective FSR\u2019s regulatory framework (if any) for policy, risk management, and grievance redressal. The proposed changes also mandate that CRAs undertake only fee-based, non-fund based rating activities, operating them through separate business units (SBUs) with \u201cChinese Walls\u201d to segregate them from SEBI-regulated activities. The comments\/ suggestions from stakeholders are invited.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.sebi.gov.in\/reports-and-statistics\/reports\/jul-2025\/consultation-paper-on-measures-for-regulation-of-activities-of-credit-rating-agencies-cras-_95142.html\"><em>(Link: SEBI Consultation Paper Dated 09\/07\/2025)<\/em><\/a><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Currently, CRAs are primarily limited to rating listed or proposed-to-be-listed securities or instruments under the specific guidelines of other financial [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[95,52],"tags":[],"class_list":["post-1830","post","type-post","status-publish","format-standard","hentry","category-reports-for-public-comments","category-sebi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEBI Consultation Paper Dated 09\/07\/2025 - Measures for regulation of activities of Credit Rating Agencies (CRAs) - Bhatia Bhola &amp; Associates LLP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEBI Consultation Paper Dated 09\/07\/2025 - Measures for regulation of activities of Credit Rating Agencies (CRAs) - Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"og:description\" content=\"Currently, CRAs are primarily limited to rating listed or proposed-to-be-listed securities or instruments under the specific guidelines of other financial [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/\" \/>\n<meta property=\"og:site_name\" content=\"Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-18T10:09:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-18T10:09:23+00:00\" \/>\n<meta name=\"author\" content=\"Yash Bhola\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yash Bhola\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/\"},\"author\":{\"name\":\"Yash Bhola\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c\"},\"headline\":\"SEBI Consultation Paper Dated 09\/07\/2025 &#8211; Measures for regulation of activities of Credit Rating Agencies (CRAs)\",\"datePublished\":\"2025-07-18T10:09:21+00:00\",\"dateModified\":\"2025-07-18T10:09:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/\"},\"wordCount\":120,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/bhatiabhola.com\/#organization\"},\"articleSection\":[\"Reports for Public Comments\",\"SEBI\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/\",\"url\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/\",\"name\":\"SEBI Consultation Paper Dated 09\/07\/2025 - Measures for regulation of activities of Credit Rating Agencies (CRAs) - Bhatia Bhola &amp; Associates LLP\",\"isPartOf\":{\"@id\":\"https:\/\/bhatiabhola.com\/#website\"},\"datePublished\":\"2025-07-18T10:09:21+00:00\",\"dateModified\":\"2025-07-18T10:09:23+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/bhatiabhola.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SEBI Consultation Paper Dated 09\/07\/2025 &#8211; Measures for regulation of activities of Credit Rating Agencies (CRAs)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/bhatiabhola.com\/#website\",\"url\":\"https:\/\/bhatiabhola.com\/\",\"name\":\"Bhatia Bhola & Associates LLP\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/bhatiabhola.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/bhatiabhola.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/bhatiabhola.com\/#organization\",\"name\":\"Bhatia Bhola & Associates LLP\",\"url\":\"https:\/\/bhatiabhola.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png\",\"contentUrl\":\"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png\",\"width\":1709,\"height\":376,\"caption\":\"Bhatia Bhola & Associates LLP\"},\"image\":{\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c\",\"name\":\"Yash Bhola\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g\",\"caption\":\"Yash Bhola\"},\"url\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/author\/bba_ypbhola\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEBI Consultation Paper Dated 09\/07\/2025 - Measures for regulation of activities of Credit Rating Agencies (CRAs) - Bhatia Bhola &amp; Associates LLP","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/","og_locale":"en_US","og_type":"article","og_title":"SEBI Consultation Paper Dated 09\/07\/2025 - Measures for regulation of activities of Credit Rating Agencies (CRAs) - Bhatia Bhola &amp; Associates LLP","og_description":"Currently, CRAs are primarily limited to rating listed or proposed-to-be-listed securities or instruments under the specific guidelines of other financial [&hellip;]","og_url":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/","og_site_name":"Bhatia Bhola &amp; Associates LLP","article_published_time":"2025-07-18T10:09:21+00:00","article_modified_time":"2025-07-18T10:09:23+00:00","author":"Yash Bhola","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yash Bhola","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/#article","isPartOf":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/"},"author":{"name":"Yash Bhola","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c"},"headline":"SEBI Consultation Paper Dated 09\/07\/2025 &#8211; Measures for regulation of activities of Credit Rating Agencies (CRAs)","datePublished":"2025-07-18T10:09:21+00:00","dateModified":"2025-07-18T10:09:23+00:00","mainEntityOfPage":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/"},"wordCount":120,"commentCount":0,"publisher":{"@id":"https:\/\/bhatiabhola.com\/#organization"},"articleSection":["Reports for Public Comments","SEBI"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/","url":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/","name":"SEBI Consultation Paper Dated 09\/07\/2025 - Measures for regulation of activities of Credit Rating Agencies (CRAs) - Bhatia Bhola &amp; Associates LLP","isPartOf":{"@id":"https:\/\/bhatiabhola.com\/#website"},"datePublished":"2025-07-18T10:09:21+00:00","dateModified":"2025-07-18T10:09:23+00:00","breadcrumb":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/07\/18\/sebi-consultation-paper-dated-09-07-2025-measures-for-regulation-of-activities-of-credit-rating-agencies-cras\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bhatiabhola.com\/"},{"@type":"ListItem","position":2,"name":"SEBI Consultation Paper Dated 09\/07\/2025 &#8211; Measures for regulation of activities of Credit Rating Agencies (CRAs)"}]},{"@type":"WebSite","@id":"https:\/\/bhatiabhola.com\/#website","url":"https:\/\/bhatiabhola.com\/","name":"Bhatia Bhola & Associates LLP","description":"","publisher":{"@id":"https:\/\/bhatiabhola.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bhatiabhola.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/bhatiabhola.com\/#organization","name":"Bhatia Bhola & Associates LLP","url":"https:\/\/bhatiabhola.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/","url":"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png","contentUrl":"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png","width":1709,"height":376,"caption":"Bhatia Bhola & Associates LLP"},"image":{"@id":"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c","name":"Yash Bhola","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g","caption":"Yash Bhola"},"url":"https:\/\/bhatiabhola.com\/index.php\/blog\/author\/bba_ypbhola\/"}]}},"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/1830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/comments?post=1830"}],"version-history":[{"count":1,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/1830\/revisions"}],"predecessor-version":[{"id":1831,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/1830\/revisions\/1831"}],"wp:attachment":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/media?parent=1830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/categories?post=1830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/tags?post=1830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}