CRISIL Indices Notices

Please find below the additive list of securities maturing in CRISIL-IBX AAA Index - March 2024 Index along with its replacement and effective date.

10-year gilt benchmark security will rollover from IN0020230085 (7.18% GS 2033) to IN0020240019 (7.10% GS 2034)

Notice date: 6^th May 2024.

Notice for Maturity proceeds re-investment into bonds/CP/CD for target maturity funds

Please find below the additive list of securities maturing in “CRISIL-IBX 60:40 SDL + AAA PSU Index - April 2025” along with its replacement and effective date.

 Notice for CRISIL Annual Criteria Review (effective 1^st July 2024) : Know more

Please find below the additive list of securities maturing in CRISIL-IBX AAA Index - March 2024 Index along with its replacement and effective date.

CRISIL Indices - Annual Criteria Review

As a part of our Annual Criteria Review process, we have made changes to the weights of the sub-indices of CRISIL Composite Indices and CRISIL Gilt Indices criteria. Changes will be effective from October 3, 2023.

• Changes in the Gilt Indices Criteria:

Changes in the CRISIL Gilt Indices criteria are summarized as follows. The new criteria will be effective from October 3, 2023:

• The data period, which is the period considered for arriving at the Gilt Securities Universe, will be reduced from 3 months to 2 months. i.e. for each month previous 2 months data shall be considered for rebalancing instead of the earlier practice of 3 months
• The buffer period will be reduced from 3 months to 2 months. 
  As per the new criteria, if a security is a part of top n securities but ignored due to buffers for 2 consecutive months (3 consecutive months as per the old criteria), the same will be considered if it appears in top n for the 3^rd month (4^th month as per the old criteria)
  

• Review of asset allocation for composite indices:

The tables below summarize the changes in weights to sub-indices effective from October 3, 2023:

Notice date: 3^rd July, 2023

Criteria Review notice for CRISIL Gilt 2027 & 2028 Target date indices:

The criteria for re-investment of maturity proceeds in the following two indices is being revised to align with the framework as mandated by AMFI and SEBI. This change will be in effect from 8th Sep 2022.

• CRISIL Gilt 2027 Index
• CRISIL Gilt 2028 Index

• As the index includes securities that shall mature during the 6 period ending on the final maturity date of the index, any proceeds from the redemption of securities prior to the final maturity date of the index shall be reinvested according to following waterfall approach –
  • The proceeds from security redemption will be reinvested in the longest maturity outstanding government security issued and maturing on or just before the index maturity date.
  • In case a replacement in the form of another outstanding government security cannot be found for reinvestment then the proceeds from such redemption shall be reinvested in the remaining portfolio on the same date in the proportion of the existing weights.
  • In case due to any reason it is not possible to meet the requirements stated in point I and II above, then the proceeds from such redemption shall be reinvested in a T-Bill maturing on or just before the index maturity date.
  • If the last outstanding security (including T-Bill) in the index matures before the final index maturity date, all redemption proceeds shall be assumed to be re-invested in The Clearing Corporation of India Ltd.'s (CCIL) TREPS overnight rate for any subsequent days till the maturity of the index.

Criteria review notice for below credit indices:

In case less than 3 issuers form a part of the index, up to 3 securities (unique issuers) will be selected from corporate bond outstanding data with the highest residual maturity within the bucket for the particular index (as shown in the table above), in such a way that there are total 3 issuers in the index.

Notice date: 23^rd June, 2022

Criteria review notice for below credit indices:

In case less than 3 issuers form a part of the index, up to 3 securities (unique issuers) will be selected from corporate bond outstanding data with the highest residual maturity within the bucket for the particular index (as shown in the table above), in such a way that there are total 3 issuers in the index.

Notice date: 1^st July, 2022

Criteria Review notice for Target date indices:

Coupon cashflow re-investment for below target date indices:

Criteria review notice for impact cost for target date indices:

The impact cost to be applied for securities forming part of CRISIL Gilt 2027 & CRISIL Gilt 2028 Index shall be standardized as below: 

Notice date: 1^st September, 2022

10 year gilt benchmark security will rollover from IN0020210244(6.54% GS 2032) to IN0020220060(7.26% GS 2032)

Notice date: 12^th September, 2022

• Addition in Criteria for Gilt Indices: Effective from January 2020, the 10 year benchmark government security forming a part of CRISIL 10 Year Gilt Index will automatically replace the least liquid security and form a part (if not already a part) of all the eligible liquidity based gilt indices.
  Notice date: 24^th December, 2019
  
  
• Change in Criteria – CRISIL Liquid Fund Index – effective 1st July, 2019
  Notice date: 24^th June, 2019
  
  
• Please note that all CP-CD Indices, T-Bill Indices (1,2 and 6 Month) have been rebased since 31st March 2002.
  Notice date: 26^th February, 2019
  

• New Indian Indices Launch
  • CRISIL AAA up to 1 Year Short Term Bond Index
  • CRISIL AAA 1 to 3 Year Short Term Bond Index
  • CRISIL AA and AA+ up to 1 Year Short Term Bond Index
  • CRISIL AA and AA+ 1 to 3 Year Short Term Bond Index
  • CRISIL 1 Month T-Bill Index
  • CRISIL 2 Month T-Bill Index
  • CRISIL 1 Month CD Index
  • CRISIL 2 Month CD Index
    
  Notice date: 5^th November, 2018
  
  
• Change in composition for CRISIL FPI Index effective 02 May 2018
  Notice date: 1^st November, 2018
  
  
• Changing the name of CRISIL Gilt Dollar Index to CRISIL Dynamic Gilt Dollar Index
  Notice date: 7^th May, 2018
  
  
• Change in composition for CRISIL FPI Index effective 02 May 2018
  Notice date: 3^rd May, 2018
  
  
• Changes in Hybrid Indices
  Notice date: 18^th January, 2018
  
  
• Discontinuation of CRISIL Inflation Indexed Government Securities Index: CRISIL announces the cessation of CRISIL Inflation Indexed Government Securities Index with effect from February 15, 2018.
  Notice date: 16^th January, 2018