What is CRISIL ?

Defination:
  • CRISIL is India's first credit rating agency, incorporated in 1987 and was promoted by the erstwhile ICICI Ltd, along with UTI and other financial institutions.
  • It commenced operations from 1988 onwards. In 1995, in partnership will National Stock Exchange, CRISIL developed CRISIL500 Equity Index. 
  • In 1996, it made a strategic alliance with the Standard & Poor’s (S&P) Ratings Group and in the following year Standard & Poor's (S&P) Ratings Group acquired 9.68% shares in it.
  • In services Industry, the CRISIL in 1998 set up the Indian Index Services Ltd as a joint venture with the NSE and in 1999, it developed a Risk Assessment Model (RAM) which became a banking industry standard. S&P acquired the majority stake in the company in 2005 and so today CRISIL is a S&P company.