iCreate: Instituting Credit Rating System Validation Framework: Challenges and Opportunities before Indian Banks

Maker-checker - one of the central principles of authorization in the Information Systems of financial organizations, states that key activities should be undertaken by more than just one person to reduce the risk of misjudgement and misuse. Maker-checker plays a crucial role in the context of Risk Management in banks.

Banks have been traditionally using rating models to assess credit-worthiness of potential as well as existing obligors, through an established process of credit appraisal