What is the Full form of CRISIL?
The CRISIL full form is Credit Rating Information Services of India Limited. CRISIL is an Indian consulting organization that provides ratings, research, risk, and policy advice and is a subsidiary of the American company S&P Global. It was India’s first credit rating agency, established in 1988 by ICICI and UTI with the capital contributions of SBI, LIC, and United India Insurance Company. In April 2005, S&P, a credit rating agency based in the United States, acquired the majority of the company’s shares.
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Background of CRISIL
- In 1987, ICICI (Industrial Credit and Investment Corporation of India Ltd.) and UTI supported the establishment of CRISIL (Unit Trust of India Ltd).
- The Commercial Paper Programme was the first grading agency to review in 1989.
- In 1992, it was the first rating agency to evaluate asset-backed securities and debt instruments issued by banks and other financial institutions.
- In 1992, it also provided technical assistance to an Israeli securities rating firm, Maalot & Malaysia Berhad.
- In 1996, the company formed a relationship with Standard & Poor’s to enhance its competencies and techniques.
- In May 2005, Standard and Poor’s acquired the controlling shareholder of CRISIL, transforming it into the Poor & Standard Organization.
- 2011 saw the introduction of education scoring, solar scoring, and the Gilt & Gold index.
- In 2012, it acquired a British company that provides services to big financial institutions.
- In 2013, it established the CRISIL Foundation to increase financial visibility and environmental preservation initiatives.
- In 2014, it was ranked as India’s first Commercial Mortgage-Backed Securities.
- In 2015, the company again began an environmental conservation campaign through employee volunteerism.
Operations of CRISIL
- The analyses and solutions provided by CRISIL assist creditors, borrowers, lenders, and authorities in making the best financial decisions.
- It enables consumers to analyze risk and generate more cash by making appropriate selections regarding service, product, and pricing.
- In addition, it promotes economic growth in emerging economies by influencing public infrastructure policies in these regions.
- CRISIL demands incompetence, transparency, teamwork, and integrity.
- CRISIL’s objective is to integrate critical perspectives, actionable knowledge, and a constructive solution.
