Bengaluru

The Reserve Bank of India (RBI) has approved the use of Brickwork Ratings India Private Limited (BWR) ratings for banks to assess risk-weighting for capital adequacy, as announced on July 10, 2024.

Earlier in April 2024, BWR received clearance from the Securities and Exchange Board of India (SEBI) to resume its normal operations, which includes bringing on new clients. Since then, BWR has expanded its Board of Directors, adding Independent Directors with backgrounds in banking, ratings, law, information technology, and corporate business. The new Independent Directors include Santosh B Nayar, M R Hegde, Prof. S Sadagopan, T Y Prabhu, Chandru Badrinarayanan, and Sudha Ravi.

Santosh B Nayar, the Chairman of BWR, expressed that the RBI’s approval highlights BWR’s dedication to maintaining high standards of regulatory compliance and excellence in credit ratings. Each member of the Board contributes unique expertise, focused on enhancing the integrity of credit rating services and protecting investor interests.