UNIVERSITY OF MUMBAI

PROJECT REPORT ON

“A study on financial services by CRISI”

M.Com. II (SEMESTER IV)

ACADEMIC YEAR 2023-2024

SUBMITTED BY

Himanshu Umesh Sodha

M.Com. II (Banking & Finance)
Roll No-27218

PROJECT GUIDE

Prof. Arul Kumar Pandian

S.I.W.S.
N. R. SWAMY COLLEGE OF COMMERCE & ECONOMICS AND
SMT. THIRUMALAI COLLEGE OF SCIENCE (AUTONOMOUS)
337, SEWRI-WADALA ESTATE,
WADALA MUMBAI-400031
2023-2024
 PROJECT REPORT ON

“A study on financial services by CRISI"

SUBMITTED
IN PARTIAL FULFILMENT OF THE REQUIREMENTS
FOR THE AWARDS OF DEGREE
MASTERS OF COMMERCE- BANKING AND FINANCE

SUBMITTED BY
Himanshu Umesh Sodha
ROLL NO-27218
M.com II (SEMESTER IV)

S.I.W.S.
N. R. SWAMY COLLEGE OF COMMERCE & ECONOMICS AND
SMT. THIRUMALAI COLLEGE OF SCIENCE (AUTONOMOUS)
337, SEWRI-WADALA ESTATE,
WADALA MUMBAI-400031
2023-2024
 CERTIFICATE
S.I.W.S.

NAAC ACCREDITED ‘A’

This is to certify that Mr. HIMANSHU UMESH SODHA Students of S.I.W.S.

N. R. SWAMY COLLEGE OF COMMERCE & ECONOMICS AND SMT.
THIRUMALAI COLLEGE OF SCIENCE (AUTONOMOUS) studying of
M.Com. II Semester IV (2023-24) has successfully completed his project report
on “A study on financial services by CRISI” in the academic year 2023-2024
the information submitted true and original to the best of the knowledge

________________________ _____________________
(Signature of Project Guide) (Signature of Principal )

________________________ _____________________
(Signature of Coordinator) (Signature of External )

College Seal
 ACKNOWLEDGEMENT

I acknowledge the valuable assistance provided by S.I.W.S. College, for Two

Years degree course in M.Com. II

I specially thank the Principal Dr. Manali Londhe, the Coordinator of M.Com.
Prof. Ayyapan Iyer, Course in charge Dr. Helel Selvaraj and Project Guide Prof.
Arul Kumar for guiding me in the right direction to prepare the project and
giving their valuable time, knowledge and guidance to complete the project
successfully.

My family and friends were great source of inspiration throughout my project,

their support is deeply acknowledged.
 DECLARATION

I, Mr. Durgesh Jagdish Sharma, student of S.I.W.S. N. R. SWAMY

COLLEGE OF COMMERCE & ECONOMICS AND SMT. THIRUMALAI
COLLEGE OF SCIENCE studying in M.Com. II (Semester IV) hereby
declare that I have completed the project report on “A study on financial services
by CRISI” in the academic year 2023-2024. This information submitted is

genuine and practical to the best of my knowledge.

Place: Mumbai Himanshu Umesh Sodha

Date: 06/04/2023 (Roll No. 27218)
 INDEX

SR No. TITTLE PAGE No.

I Preamble 7
II Introduction on the company 8
III Reputation & Ranking 26
IV Service Portfolio Analysis 37
V Global Economic Impact 47
VI Corporate Culture 50
VII Objective Of the Study 58
VIII Summary 61
IX Review And Literature 63
X Hypotheses 65
XII Primary Data & Survey 73
XIII Conclusion 79
XIV Bibliography 80
XV References 81
 Chapter 1. Introduction to Crisil and its Role in Financial Services

What is CRISIL?
The full form of CRISIL is Credit Rating Information Services of India Limited. CRISIL is
an Indian consulting firm offering ratings, analysis, risk and policy advice and is a branch of
S&P Global, an American corporation. It was India’s first credit rating body, founded in 1988
by ICICI & UTI by the incoming share capital of SBI, LIC and United India Insurance
Company. In April 2005, US-based credit score firm S&P bought the bulk of the company’s
shares.

History of CRISIL
 In 1987, CRISIL was founded and supported by ICICI (Industrial Credit and
Investment Corporation of India Ltd.) and UTI (Unit Trust of India Ltd).
 In 1989, the Commercial Paper Programme was the first rating organization to
evaluate.
 In 1992, it was the first rating firm to rate Banks & many financial institutions’ asset-
backed securities & debt instruments.
 It also offered the technical support to an Israeli Securities Rating Firm, Maalot &
Malaysia Berhad in 1992.
 It announced a partnership with Standard and Poor’s in 1996 to improve its
competencies & methods.
 Standard and Poor’s thus became controlling shareholder of CRISIL in May 2005 and
CRISIL became the poor & Standard Organization.
 In 2011, education scoring, solar scoring and the Gilt & Gold index were introduced.
 It bought a UK-based company offering services to major financial firms in 2012.
 It launched the CRISIL Foundation in 2013 to raise financial visibility and
environmental protection efforts.
 It ranked India’s first Commercial Mortgage-Backed Securities in 2014.
 It initiated an environmental protection initiative again in 2015 via staff volunteering.