RBI warns lenders against getting ratings from Brickwork

MUMBAI: The Reserve Bank of India Wednesday advised its regulated entities against obtaining any new ratings or evaluations from Brickwork Ratings, which lost its licence following an order by the Securities and Exchange Board of India last week, reports Our Bureau. “The instructions regarding the prudential treatment of the existing ratings issued by the rating agency shall be advised separately,” RBI said in a release. The capital market regulator earlier directed Brickwork to wind up its business within six months and not to take any new clients or mandates.