CRISIL Complexity Levels will assist

  • Investors, both retail and institutional, in determining the degree of sophistication and due diligence required to understand the risk factors involved in an instrument before making an investment decision.
  • Issuers and Financial Intermediaries, in deciding the target segment for each instrument, and directing selling efforts accordingly. Thus, the problem of mis-selling can be addressed to a large extent.
  • Regulators, in addressing issues such as mis-selling, and also in stipulating the maximum complexity levels for investment by a particular class of investors, for example, pension funds and insurance companies.


CRISIL Complexity Levels are a service provided by CRISIL free of charge to all users. CRISIL Complexity Levels may be used without changing their meaning or context, but with due credit to CRISIL.



CRISIL Complexity Levels are based on information obtained by CRISIL from sources it considers reliable. CRISIL Complexity Levels reflect the ease of understanding and analysing the risk elements in capital market instruments. The initiative is on a voluntary and pro-bono basis. CRISIL does not guarantee the completeness or accuracy of the information on which the categorisation is based. A CRISIL Complexity Level is not a recommendation to buy, sell or hold the instrument; it does not comment on the market price or suitability for a particular investor. CRISIL is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of this product.


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