Which of the following is/are credit rating agency /agencies in India?

In India, Credit Rating Agencies (CRAs) are regulated by the Securities and Exchange Board of India (SEBI) under the SEBI (Credit Rating Agencies) Regulations, 1999 [3]. CRISIL (Credit Rating Information Services of India Limited), established in 1987, was the first CRA in the country [3]. It was followed by ICRA (formerly Investment Information and Credit Rating Agency) in 1991 and CARE (Credit Analysis and Research Limited) in 1993-94 [3]. These agencies evaluate the creditworthiness of debt instruments issued by corporations and financial institutions, helping investors assess default risk [1]. Other SEBI-registered agencies include India Ratings and Research, Acuite Ratings, and Brickwork Ratings [4]. Since CRISIL, CARE, and ICRA are all prominent, registered credit rating agencies operating in the Indian financial market, the correct answer is 'All of the above'.

Sources

1. [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 9: Agriculture > Credit Rating Agencies > p. 282
2. [3] https://www.iimb.ac.in/sites/default/files/2018-07/WP.IIMB_.134.pdf
3. [2] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 9: Agriculture > The major CRAs in India are: > p. 283
4. [4] https://www.sebi.gov.in/commondata/recognised/Registered-Credit-Rating-Agencies.pdf