CRA Regulations Amended To Expand Permitted Activities

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  • Last Updated on 19 January, 2026

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SEBI CRA Regulations Amendment

Notification No. SEBI/LAD-NRO/GN/2026/293, Dated: 13.01.2026

1. Introduction

Securities and Exchange Board of India (SEBI) has notified an amendment to Regulation 9(f) of the SEBI (Credit Rating Agencies) Regulations, 1999, modifying the scope of activities that credit rating agencies (CRAs) are permitted to undertake.

2. Background Of Regulation 9(f)

Regulation 9(f) governs the ability of CRAs to engage in activities beyond credit rating. Earlier, the provision allowed additional activities subject to conditions, including a proviso mandating segregation of such activities to avoid conflicts of interest.

3. Revised Scope Of Permitted Activities

Under the amended regulation, CRAs are permitted to carry out any other activity as may be specified by SEBI. Further, CRAs may undertake rating of financial instruments that fall under the regulatory domain of other financial sector regulators or authorities.

4. Omission Of Segregation Proviso

A key change introduced by the amendment is the omission of the proviso relating to segregation of other activities. This signals a shift towards a more flexible regulatory approach, relying on SEBI’s oversight rather than mandatory structural separation.

5. Conclusion

The amendment to Regulation 9(f) reflects SEBI’s intent to modernise the regulatory framework for credit rating agencies. By expanding permissible activities and removing rigid segregation requirements, the revised framework aims to enhance operational flexibility while maintaining regulatory control.

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied