SEBI Extends CRA Industry Classification Deadline 
                      
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SEBI Extends the Timeline for Implementing 
Standardised Industry Classification by CRAs 
On 1st December 2022, the Securities and Exchange Board 
of India (SEBI) issued Circular No. - SEBI/HO/DDHS/DDHS 
-RACPOD2/P/CIR/2022/168 in regard to the extension of 
the timeline of implementing standardised industry 
classification by Credit Rating Agencies (CRAs). 
 
SEBI has previously issued Circular No. - SEBI/HO/MIRSD/ 
 CRADT/CIR/P/2022/42 on 1st April 2022, which advised 
the CRAs to implement standardising industry 
classification by 30th September 2022. The guidelines 
issued were then subsequently revised via the 
amendments issued on Circular No. - SEBI/HO/DDHS/DD 
 HS-RACPOD2/P/CIR/2022/134 on 30th September 2022, 
and the timeline for the implementation was extended to 
30th November 2022. 
 
Keeping in view of the representation that has been 
received from CRAs, which requests for an extension of 
the date of applicability of standardised industry 
classification, SEBI has now decided to extend the date of 
applicability of the standardised industry classification 
further till 15th December 2022. 
 
This particular Circular was issued with the approval of 
the appropriate authority through the exercise of powers 
as conferred in Section 11 (1) of the Securities and 
Exchange Board of India Act, 1992, to be read with 
Regulation 20 of the Securities and Exchange Board of 
India (Credit Rating Agencies) Regulations, 1999 serving 
the purpose of protecting the investor's interest in 
securities along with promoting the development of, and 
regulation of the securities market. 
 
 
 
 
 
 
 
 
 
 
 Sushree Dash 
 
 Legal Researcher 
Official Notification Attached - here