Also, Sebi will ensure the independence of its credit-rating process in view of any such arrangements and provide guidance on sharing of resources by avoiding conflict of interest.
The markets regulator has said the new rules will come into effect from January 1, 2023. CRAs will have to report on their compliance within one quarter from the date of applicability of the circular.
The monitoring of the circular will be required to be done through half-yearly internal audits.
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