Comments by "Sankalp" (@sankalp6872) on "How India is hitting back against the global sovereign credit rating agencies" video.

  1. Thank you, Sharad and Radhika for picking and answering my question. However, I think you left out two key details. 1) The sketchy role that the Big 3 played during the GFC. 2) The rising capital base of DIIs. At some point in future regulations will ease and DIIs might start taking big positions in foreign government bonds. If SEBI or RBI mandates CARE ratings than naturally the acceptance would increase.
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  2. Global Financial Crisis have already exposed the Big 3. The so called "best" methodology was based on who paid the best. Now, I am not saying that the CARE would do a better job or gain investor trust in a jiffy but it is sheer "lunacy" to suggest that no new player should emerge in the market. This is NOT how free markets work. Personally, I too think without RBI support CARE won't get much acceptance. However, an increased competition is always good.
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