"SEBI has initiated action against credit rating agencies under Section 15HB but can only impose monetary penalty," a source told Moneycontrol.
The investigation revealed that Arun K Saha, the former joint Managing Director of IL&FS, threatened to discontinue business to the rating agencies if they gave unfavourable ratings.
Global cues such as fuel prices and a looming trade war could impede the country’s attempt at reining in its deficit. Expenditure could go up as the clock ticks down to the elections of 2019.
The first four infrastructure investment trusts (InvITs), which are likely to hit the primary markets this financial year, can reduce the overall debt of the sponsor groups by close to Rs 13,000 crores, says R
Ratings firm Ind-Ra today said PNB Housing Finance Ltd's "strong linkages" with its parent Punjab National Bank is likely to remain strong even after the reduced shareholding post the initial public offer.
Global cues to watch for are crude oil price movement and dollar trajectory, says Bansi Madhavani, India Rating.
India Rating has come out with its report on Rupee. The research firm expects the Indian rupee (INR) to appreciate to 59-61 against the US dollar (USD) by end-March 2014 (FYE14).
Moody's Investor Service has not issued any new statement on India's sovereign rating and outlook, the agency told Reuters on Wednesday.