What changed
The credit rating agency previously known as SME Rating Agency of India Ltd. has changed its name to SMERA Ratings Limited. RBI has updated its master circulars on capital adequacy and Basel III regulations to reflect this name change. The agency's SEBI registration certificate was issued on August 14, 2013.
What it means for you
Banks must update their internal systems and documentation to reference SMERA Ratings Limited instead of the old name when using external credit ratings for risk weighting capital adequacy claims. The change is purely administrative; rating symbols and all other provisions remain unchanged.
What you must do
- Update all internal references from 'SME Rating Agency of India Ltd.' to 'SMERA Ratings Limited' in capital adequacy and Basel III compliance documents.
- Ensure risk-weighting processes for claims using this CRA's ratings reflect the new name.
- Inform relevant credit and risk management teams about the name change to avoid processing errors.
Who it affects
All scheduled commercial banks (excluding Local Area Banks and Regional Rural Banks), Credit risk management teams, Capital adequacy compliance teams
Does this name change affect the rating symbols used by SMERA?
No, the rating symbols remain unchanged after the name change.
When did SEBI issue the new registration certificate to SMERA?
SEBI issued the Certificate of Registration on August 14, 2013.
Which master circulars are being updated by this notification?
The master circulars on 'Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequacy Framework (NCAF)' and 'Basel III Capital Regulations', both dated July 1, 2013.