NPAs may move up by 5% due to moratorium: CARE Ratings' Ajay Mahajan

CARE Ratings is starting afresh after having hit an air pocket earlier this year that saw changes at its helm. These were the fallout of enquiries which revealed interference in the ratings’ process. Ajay Mahajan, managing director and chief executive officer, spoke to Raghu Mohan on how he views the business and the regulatory topography ahead. Edited excerpts:

On challenges in the ratings business

We need overall growth in the credit and debt markets. Grabbing market share from others can work only up to a point as there are seven rating agencies. We are also aware of the regulatory challenges