India deserves better ratings in a new world

Credit rating agencies and the very idea of credit rating find themselves at the cross-roads in the wake of the financial crisis of 2008. There is a broad consensus on the fact that the rating agencies failed miserably in their role as gatekeepers to the global debt markets (and the various structures that build on debt) and as forecasters of balance sheet stress either for a company or a sovereign.  (Aditya Puri, CEO & MD, HDFC Bank)    

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