What is the full form of CRISIL?

The full form of CRISIL is Credit Rating Information Services of India Limited. CRISIL is an Indian consulting organisation that provides ratings, research, risk, and policy advice. It is a subsidiary of the American corporation S&P Global. It was India’s first credit rating agency, created in 1988 by ICICI and UTI, with finance from SBI, LIC, and United India Insurance Company. S&P, a credit rating firm based in the United States, purchased the majority of the company’s stock in April 2005.

History of CRISIL

• CRISIL was established in 1987 with the backing of ICICI (Industrial Credit and Investment Corporation of India Ltd.) and UTI (Unit Trust of India Ltd).
• The Commercial Paper Program was the first rating body to review in 1989.
• It was the first rating organisation to grade asset-backed securities and debt instruments issued by banks and other financial institutions in 1992.
• In 1992, it also provided technical assistance to Maalot & Malaysia Berhad, an Israeli securities rating firm.
• In 1996, it established a collaboration with Standard and Poor’s to develop its capabilities and procedures.
• In May 2005, Standard and Poor’s acquired control of CRISIL, and CRISIL became the Poor & Standard Organization.
• Education scoring, solar scoring, and the Gilt & Gold index were all added in 2011.
• In 2012, it acquired a UK-based company that provides services to large financial institutions.
• In 2013, it established the CRISIL Foundation to increase financial visibility and environmental preservation activities.
• In 2014, it was ranked as India’s first Commercial Mortgage-Backed Securities.
• In 2015, it relaunched an environmental conservation project through employee volunteerism.

Operations of CRISIL

• CRISIL’s analyses and solutions assist creditors, borrowers, lenders, and authorities in making sound financial decisions.
• It enables consumers to assess risk and generate more cash by making precise service, product, and pricing decisions.
• It also promotes economic growth in emerging markets by influencing public infrastructure policy in these areas.
• The CRISIL insists on ineptitude, transparency, collaboration, and honesty.
• CRISIL’s objective is to integrate critical perspectives, verifiable knowledge, and a constructive solution.