Consider the following statements:

1. In India, credit rating agencies are regulated by Reserve Bank of India.

2. The rating agency popularly known as ICRA is a public limited company.

3. Brickwork Ratings is an Indian credit rating agency.

Which of the statements given above are correct?

The correct option is 2 and 3 only.

Let us analyze each statement step-by-step to understand why this option is correct:

Statement 1 is incorrect:
In India, credit rating agencies (CRAs) are regulated by the Securities and Exchange Board of India (SEBI) under the SEBI (Credit Rating Agencies) Regulations, 1999, and not by the Reserve Bank of India (RBI). The RBI only maintains a list of accredited credit rating agencies whose ratings can be used by banks for risk-weighting purposes under Basel norms.

Statement 2 is correct:
ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) was incorporated in 1991 and is a public limited company. It is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Statement 3 is correct:
Brickwork Ratings (BWR) is an Indian credit rating agency registered with SEBI. It is accredited by the RBI and offers rating services for bank loans, municipal corporations, capital market instruments, and financial institutions.

Therefore, since statements 2 and 3 are correct, the correct option is "2 and 3 only".