(a) the details of the public sector banks which have acquired stake
in a credit rating agency in the recent past and the reasons therefor;
(b) whether this has the approval of the Government / Board of Directors;
(c) if so, the details thereof; and
(d) the likely impact of this acquisition on the overall functioning of the banks?
The Minister of State in the Ministry of Finance
(Shri Namo Narain Meena)
(a) to (d): Reserve Bank of India (RBI) has informed that they have given
approval to the Public Sector Banks (PSBs) for investment in following Credit
Rating Agencies in last one year. RBI has further informed that the proposals
for investment were received by them with the approvals by Boards / Investment
Committees of the respective banks:-
Sr. No. Credit Rating Name of Amount Date of the Agency the Bank (Rs. In crore) Approval Letter
1. Credit Analysis Union Bank 100.00 December 11, 2012 and Research Ltd. of India (CARE)
2. -do- Vijaya Bank 100.00 -do-
3. -do- Syndicate Bank 20.00 -do-
4. -do- Central Bank 105.00 -do- of India
5. -do- Oriental Bank 500.00 -do- of Commerce
6. -do- Andhra Bank 20.00 -do-
7. -do- Punjab 458.99 -do- National Bank
8. Brickwork Ratings Canara Bank 1.38 December 27, 2012 India Pvt.Ltd.