BusinessWire India

Bengaluru (Karnataka) [India], July 16: The Reserve Bank of India (RBI) has permitted banks to use the ratings of Brickwork Ratings India Private Limited (BWR) for risk-weighting their claims for capital adequacy purposes, according to a statement released by the RBI on July 10, 2024. In April 2024, after complying with the necessary regulatory requirements, BWR was permitted by the Securities and Exchange Board of India (SEBI) to resume normal business operations, including onboarding new clients. Since then, BWR has diversified and broadened its Board of Directors with additional Independent Directors with expertise in banking, ratings, law, information technology, and corporate business. The Board's Independent Directors now include Santosh B Nayar, M R Hegde, Prof. S Sadagopan, T Y Prabhu, Chandru Badrinarayanan and Sudha Ravi. Santosh B Nayar, Chairman of the BWR Board, commented, "RBI's decision supports BWR's continued commitment to maintaining high regulatory compliance standards and delivering excellence in credit rating services. Every Board member of Brickwork brings unique expertise to the table, and is committed to ensuring and enhancing the integrity of credit rating services and safeguarding investor interests." Link to RBI's notification - https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12700&Mode=0

Also Read | Shillong Teer Results Today, July 16 2024: Know Winning Numbers, Result Chart for Shillong, Juwai, Khanapara Teer Games.

(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)