In a bid to expand its operations having synergy with its existing line of activities Crisil is planning to enter retail credit bureau.
Ravimohan, the newly appointed managing director and region head of Standard & Poor?s (S&P) in South Asia on Friday said that the details of the venture are being worked out.
?We are talking to other players and whether it would be in the name of S&P or Crisil which would undertaking the operations is yet to be decided.We will be applying to RBI for license shortly,?? he said.
Ravimohan who will be stationed in Mumbai said the country is gradually transforming into global financial hub and S&P and Crisil are exploring possibility of exporting financial products from Indian market. Indian SME rating product has demands outside India, he said.
?The manpower requirement of the financial sector which has seen new international players entering the country is growing by 25 to 30%. All of these new players are having long term plans,?? he said.
Thomas G Schiller, executive managing director, Asia Pacific, S&P said the international rating agency is positioning Indian market as a part of the top three Asian market along with Japan and Australia.
?Almost 500 people are already working for S&P in India and we are now planning expanding our operations,?? he said adding that the international rating agency has no plans hike its holding in Crisil.
Roopa Kudva, the new managing director said that with the arrival Basel II and mandatory IPO rating, Crisil with 70% of the market share will record rapid expansion in its activities.