Our History

1980's
CRISIL-is-incorporated-old-logo

January, 1987

CRISIL is incorporated

CRISIL, India's first credit rating agency, is incorporated on the 29th day of the month, promoted by the erstwhile ICICI Ltd along with UTI and other financial institutions. Mr. N Vaghul and Mr. Pradip Shah are CRISIL's first Chairman and Managing Director, respectively.

1987
AU_OH_01_1988

January, 1988 

CRISIL commences operations

CRISIL commences operations within a year of its incorporation on January 1. The business environment is far from promising for the one-year old - the lending rates are fixed, and India has no such thing as a corporate bond market as yet. As of now, credit rating is an idea that's far ahead of its times.

1988
1990's
CRISIL launches CRISILCARD 1990

1990

CRISIL launches CRISILCARD

CRISIL launches the ‘CRISILCARD Service’ to provide comprehensive information and analytical opinion on India's corporate entities

1990
AU_OH_mm_dd_yyyy

1991

CRISIL establishes its business

Despite the odds, and the initial lack of market acceptance of credit ratings, CRISIL's operations are now well established. It begins to acquire brand identity, with a reputation for analytical rigour and independence.

1991
Malaysian ratings agency

July, 1992

CRISIL helps Rating Agency Malaysia Berhad

CRISIL offers technical assistance and training to help set up Rating Agency Malaysia Berhad, and MAALOT - the Israeli securities rating company.

1992
CRISIL goes public

November, 1993

CRISIL goes public

CRISIL's IPO is a whopping success - it's 20,00,000 shares, sold at a premium of Rs.40 per share, are oversubscribed by 2.47 times.

1993
Ravimohan

October, 1994

R Ravimohan is appointed as CRISIL's Managing Director

Mr. R Ravimohan takes over as CRISIL's Managing Director on the first day of the month.

 

1994
crisil-plans-eguity

December, 1995

CRISIL500 Equity Index is launched

In partnership with National Stock Exchange of India Ltd. (NSEIL), CRISIL develops and launches the CRISIL500 Equity Index, helping investors clue in on stock price movements.

1994
Business alliance with S&P 1996

February, 1996    

Business alliance with S&P

CRISIL forges a strategic business alliance with Standard & Poor's (S&P) Ratings Group. The tie-up is part of CRISIL's strategy to develop its skills and processes.

 

1995
CRISIL-is-incorporated

May, 1997

S&P acquires 9.68 % stake in CRISIL

S&P acquires a 9.68 % stake in CRISIL on May 8, 1997. The alliance with the world's leading rating agency adds a new dimension to CRISIL's methodologies. It provides CRISIL with exposure to the international rating markets and to S&P's rating processes.

1996
The Financial Exp

August, 1998

CRISIL sets up IISL

CRISIL sets up India Index Services Ltd (IISL), a joint venture with NSEIL, to provide a variety of indices and index -related services and products to India's capital markets.

1997
RAM

1999

RAM becomes banking industry standard

CRISIL's proprietary Risk Assessment Model (RAM) becomes the banking industry standard. Given the heightened regulatory focus on banks' risk management practices, RAM serves as a customised credit rating model for the banks.

1998
Infra-Advisory-logo

October, 1994    

CRISIL diversifies its portfolio

CRISIL diversifies business portfolio with a strategic entry into advisory services, and wins its first major mandate in the infrastructure policy advisory domain.

1999
2000's
CRISIL acquires INFAC 2

March, 2000

CRISIL acquires INFAC

CRISIL acquires the business and brand INFAC of Information Products and Research Services (India) Pvt. Ltd. on March 15. INFAC is a leading provider of research to India's financial sector. The acquisition strengthens CRISIL's research business, and makes it India's leading provider of integrated research.

2000
Mutual-Fund-Ranking

June, 2000

CRISIL Composite Performance Ranking launched

CRISIL launches the CRISIL Composite Performance Ranking (CRISIL~CPR) to provide performance evaluation standards and investment decision support to mutual fund houses, distributors, and investors.

2000
AU_OH_2001

2001

Global Data Services set up

CRISIL sets up subsidiary, Global Data Services of India Ltd. to standardise published financial data for analysis.

2001
CYTL is launched 2001

2001

CYTL is launched

CRISIL launches the CRISIL Young Thought Leader (CYTL) Award to attract outstanding talent and provide a platform to India's future business leaders to showcase their views.

2001
AU_OH_2001

2001

CRISIL launches Mutual Fund Awards

CRISIL launches Mutual Fund Awards in association with CNBC-TV18 - a benchmark award for India's best performing mutual funds.

2001
CRISIL MarketWire is launched 2002

February, 2002

CRISIL MarketWire is launched

MarketWire - to provide real-time financial news services to help clients make pricing and investment related decisions.

2002
CRISIL-Eccoview

April, 2002

CCER is set up

CRISIL sets up The Centre for Economic Research (CCER) to apply economic principles to live business situations.

2002
Integrated risk management solutions by CRISIL 2003

2003

Integrated risk management solutions by CRISIL

CRISIL sets up its investment and risk management services group to offer integrated risk management solutions and advice to banks and corporates.

2003
AU_OH_2003

2003

CRISIL acquires EconoMatters

CRISIL follows it up with its first overseas acquisition - EconoMatters Ltd (later the Gas Strategies Group), a London-based company providing natural gas related consulting, information and training, and conference-organising services.

2003
CariCRIS-logo

2004

CRISIL invests in CariCRIS

CRISIL expands its global reach further with an equity investment in the world's first regional rating agency, the Caribbean Information and Credit Rating Services Limited (CariCRIS), which CRISIL also helps set up.

2004
Municipal Corporate Award

2004

Municipal excellence awards

The CRISIL Awards for Excellence in Municipal Initiatives are instituted to recognise outstanding programmes in urban development.

2004
S&P-logo

2005

S&P acquires majority stake in CRISIL

The strategic alliance with S&P since 1996 culminates in S&P's acquiring majority control of CRISIL.

2005
Irevna-logo

May, 2005

CRISIL acquired Irevna

CRISIL makes its second overseas acquisition of Irevna, thus adding equity research to its wide canvas of work. Irevna is a leading global equity research and analytics company.

2005
SME-Ratings

May, 2005

CRISIL SME Ratings is launched

CRISIL launches Small and Medium Enterprise (SME) Ratings to serve the specialised needs of the SME sector.

2005
CRISIL partners Emerging India Awards 2005

May, 2005

CRISIL partners Emerging India Awards

CRISIL partners CNBC-TV18 for Emerging India Awards - the first platform to recognise and reward the achievements of India's Small & Medium Enterprises.

2005
Irevna is ranked top investment research outsourcing firm

2006

Irevna is ranked top investment research outsourcing firm

Irevna is ranked globally as the top Investment Research Outsourcing Firm by The Black Book of Outsourcing.

2006
CRISIL launches IPO gradings

2006

CRISIL launches IPO gradings

CRISIL launches IPO grading services to provide investors with independent, reliable, and consistent assessments of the fundamental strengths of new public issues.

2006
PFRDA b&w

February, 2007

CRISIL wins PFRDA mandate

The Pension Fund Regulatory and Development Authority awards CRISIL with a prestigious mandate to assist in the selection of Fund Managers under the New Pension Scheme.

2007
CRISIL assigns first BLR

June, 2007

CRISIL assigns first BLR    

CRISIL assigns India's first Bank Loan Rating under the Reserve Bank of India's Basel-II related regulations.

2007
Roopa Kudva takes over as MD & CEO 2007

July, 2007    

Roopa Kudva takes over as MD & CEO

Roopa Kudva takes over as Managing Director and CEO of CRISIL, following Mr. Ravimohan's appointment as Managing Director and Region Head of S&P, South Asia.

2007
Irevna is ranked top investment research outsourcing firm

July, 2007

Irevna tops analytics outsourcing firms

Black Book of Outsourcing ranks Irevna the No. 1 Financial Services Industry Analytics Outsourcing Firm.

2007
CRISIL Complexity Levels is launched 2008

March, 2008

CRISIL Complexity Levels is launched

CRISIL launches Complexity Levels, an initiative to strengthen India's capital markets by providing greater transparency to investors.

2007
Real Estate Awards is launched

July, 2007

Real Estate Awards is launched

CRISIL launches Real Estate Awards with CNBC AWAAZ. The award honours India's exemplary developers and builders.

2008
5000-SME-Ratings

2009

5000 SME rating assigned by CRISIL

SME Ratings group assigns its 5000th SME rating.

2008
ruppes-5-billion

March, 2008

CRISIL’s revenue crosses Rs. 5 bn

CRISIL's revenue crosses Rs.5 billion in 2008.

2009
Irevna tops yet again

2009

Irevna tops yet again

Irevna is ranked globally by The Black Book of Outsourcing as the No. 1 Investment Research and Analytics Outsourcing Firm.

2009
CRISIL assigns first BLR

2009

CRISIL captured half of BLR market

CRISIL captures about half of India's bank loan rating market share.

2009
CRISIL IER is launched 2009

2009

CRISIL IER
is launched

CRISIL Research launches Independent Equity Research (IER).

2009
2010's
AU_OH_03_2010

March, 2010

CRISIL moves to
new HO 

CRISIL moves into a new, corporate head office - the new CRISIL House - at Powai, Mumbai. It is a state-of-the-art, green building.

2010
15000 SME-Rating

March, 2010

CRISIL assigns 15,000 SME ratings

CRISIL SME Ratings crosses its 15,000th SME rating.

2010
Real-estate

August, 2010

CREST is launched

CRISIL launches CRISIL Real Estate Star Ratings.

2010
CRISIL Education Gradings is launched

January, 2011

CRISIL Education Gradings is launched

CRISIL launches Education Grading, beginning with business schools.

2010
Pipal Acquisition

August, 2010

CRISIL acquires Pipal

CRISIL acquires Pipal Research, further strengthening its leadership in the KPO industry.

2011
CRISIL rates 20,000 SMEs

April, 2011

CRISIL rates 20,000 SMEs

CRISIL Rating enhances access to funding for SMEs; announces 20,000th SME Rating.

2011
Solar-Gradings

April, 2011

CRISIL Solar Gradings is launced

CRISIL Ratings launches Solar grading.

2011
Gold-index

April, 2011

Gold and Gilt Index is launched

CRISIL Research launches Gold and Gilt Index.

2011
Nasscom

April,2011

GR&A wins NASSCOM award 

CRISIL Global Research & Analytics receives NASSCOM Exemplary Talent Practices Award.

2011
2500-SME-Ratings

February, 2012

25,000th SME rating assigned

CRISIL announces its 25,000th SME rating.

2012
Nasscom

April, 2011

GR&A wins NASSCOM award

CRISIL Global Research & Analytics receives NASSCOM Exemplary Talent Practices Award.

2012
Coalition-logo

June, 2012

CRISIL acquires Coalition

CRISIL acquires UK-based Coalition, a company providing high-end analytics to global investment banks.

2012
Mein-pragati

March, 2012

CRISIL launches Pragati series

CRISIL transforms the lives of 1000 rural citizens through 'Pragati', a series of financial awareness workshops.

2012
CRISIL-Book-Doing-what-is-right

December, 2012

CRISIL story book is launched

CRISIL launches 'Doing what is right: The CRISIL Story' - a book on the company's 25-year evolution, on December 19.

2012
10000-BLR

July, 2012

10,000th BLR assigned

CRISIL assigns its 10,000th bank loan rating.

2012
CRISIL-Inclusix-rupees

2013

CRISIL Inclusix is launched

CRISIL launches CRISIL Inclusix, India's most comprehensive financial inclusion index which accurately measures the extent of financial inclusion in the country, right down to each of the 632 districts.

2013
CRISIL-Foundation-launch

2013

CRISIL Foundation is launched

CRISIL launches CRISIL Foundation, a platform for achieving its twin goals of increasing financial awareness and conservation of the environment.

2013
CRISIL rates first commercial mortgage backed security

2014

CRISIL rates first commercial mortgage backed security

CRISIL rates India's first Commercial Mortgage Backed Securities.

2013
GOOD-BAD-UGLY

2013

CRISIL State of the Nation report released

CRISIL releases its first 'State of the Nation' report, a unique top-down-meets-bottom-up analysis that offers a holistic perspective on the economic state of India.

2014
IIM A

2014

CRISIL Chair of Financial Markets' instituted at IIM A

CRISIL signs an MoU with the Indian Institute of Management, Ahmedabad (IIM-A) to set up a 'CRISIL Chair of Financial Markets' at the institute.

2014
2014 Fund Management rating

2014

Fund Management ratings launched

CRISIL introduces Fund Management Capability Ratings for the mutual fund.

2014
Ashu-suyash

June, 2015

Ms. Ashu Suyash is appointed CRISIL’s MD & CEO

Ms. Ashu Suyash takes over as Managing Director and CEO of CRISIL on 1.6.2015. 

2015
CRISIL-RE

February, 2015

CRISIL RE is launched

CRISIL RE launched - a programme focusing on environment conservation through employee volunteering.

2015
partially guaranteed debenture

2015

CRISIL rates partially guaranteed debenture

CRISIL rates an innovative partially guaranteed debenture issue of a passive infrastructure SPV backed by first-loss partial guarantee from IIFCL.

2015
2016 hybrid issuance ratings

2016

CRISIL launches the first hybrid issuance ratings

CRISIL launches the first hybrid issuance ratings in the insurance sector.

2016
CCAP-10th-year-logo

2016

10th batch of CCAP launched

CRISIL Certified Analyst Program (CCAP) launches its 10th batch, in association with Narsee Monjee Institute of Management Studies (NMIMS) as the academic partner. 

2016
100 best companies

2016

CRISIL features in list of the top 100 Best companies in India for women

CRISIL features in list of the top 100 Best companies in India for women by Avtar Group and Working Mother Publication.

2016
CSR-Yearbook 2017

2016

CRISIL launches of CSR Year Book

CRISIL Foundation launches the first edition of CRISIL CSR Year Book, an annual publication analysing corporate spends for CSR, trends in driving social impact, and compliance with Section 135 on CSR in the new Companies Act, 2013.

2016
First-Infra-ratings

2016

CRISIL launches first Infrastructure Rating

CRISIL launches first Infrastructure Rating on the ‘Expected Loss’ scale.

2016
CRISIL-Foundation

2016

CRISIL Foundation selected for RBI scheme

CRISIL Foundation is selected by the Reserve Bank of India to receive financial assistance under its Depositor Education & Awareness Fund Scheme.

2016
30-years

2017

CRISIL completes 30 years

CRISIL celebrates its 30-year anniversary and continues to be driven by its mission of making markets function better.

2017
SMART-logo

2017

CRISIL launches SMART

CRISIL GR&A launches SMART, an innovative financial research platform powered by cognitive automation that enables research analysts to emulate certain tasks and optimize decision making for many others.

2017
SMEFirst-logo

2017

CRISIL launches smefirst

CRISIL launches smefirst, an online platform that allows SMEs easy access to ratings and other related services.

2017
CRISIL-buys-stake-in-CARE

2017

CRISIL buys stake in CARE

CRISIL buys 8.9% stake in CARE Ratings.

2017
indias-first-infrastructure-investability-index-launch

2017

CRISIL launches InfraInvex

CRISIL launches India’s first infrastructure investability index

2017
SIDBI-and-CRISIL

2017

SIDBI & CRISIL sign MoU to launch CriSidEx

Small Industries Development Bank of India (SIDBI) and CRISIL sign MoU to launch India’s first MSME Sentiment index named CriSidEx

2017
  • 1980's
  • 1990's
  • 2000's
  • 2010's