CARE Ratings announced that its subsidiary CareEdge Global IFSC Ltd has received a license from the International Financial Services Centres Authority (IFSCA). This approval allows the unit to operate as a full-service credit rating agency within India’s IFSC framework, expanding its global reach and service offerings.
CARE Ratings, one of India’s leading credit rating agencies, has achieved a significant milestone with its unit CareEdge Global IFSC Ltd securing authorization from IFSCA. This license strengthens its ability to provide international credit rating services and enhances India’s position in global capital markets.
License Details
The IFSCA license enables CareEdge Global IFSC Ltd to operate from Gujarat International Finance Tec-City (GIFT City), India’s premier IFSC hub. As the first credit rating agency authorized under this framework, CareEdge Global will provide comprehensive ratings for global issuers, investors, and institutions.
Key Highlights
* CareEdge Global IFSC Ltd receives license from IFSCA
* First credit rating agency authorized under India’s IFSC framework
* Operations to be based at GIFT City, Gujarat
* Expanded services to global capital market participants
* Strengthens India’s role in international financial services
Why It Matters
This development positions CARE Ratings to compete internationally, offering insights and ratings beyond domestic markets. For investors, it provides access to globally benchmarked credit assessments. For India, it underscores the country’s ambition to make GIFT City a hub for international financial services.
Sources: CARE Ratings, International Financial Services Centres Authority, Business Standard