PTI New Delhi

Sebi has revised timelines for credit rating agencies (CRAs) to enhance the ease of doing business by introducing the term "working days" instead of "days" for compliance deadlines. In a circular issued on Tuesday, the markets watchdog announced changes in rules for CRAs aimed at standardising rating processes and publication protocols. 

These changes follow recommendations from a working group on CRAs that highlighted the challenges posed by existing timelines, especially during non-working days. "One of the recommendations of the Working Group of CRAs for ease of doing business pertains to modification of approach on specifying timelines from 'days' to 'working days' in respect of certain requirements," Sebi said.

Under revised rules, Sebi said credit rating agencies must publish press releases on rating actions within seven working days of the relevant event, replacing the previous mandate of seven calendar days. For reviewing ratings in cases of delays in debt servicing, the timeline has been adjusted to two working days from two calendar days.

Sebi warns Ola Electric

Sebi has warned Ola Electric Mobility for violating listing norms by sharing store expansion plans before informing stock exchanges, as per a regulatory filing by the company. Sebi took exception to dissemination of information about plans for a four-fold expansion of Ola’s store network by December 20, 2024.