Distinguish between 'Rating of manufacturing companies' and 'rating of financial services companies'.

The factors generally considered for rating of manufacturing companies covers evaluation of Business Risk, Financial Risk, Management Risk and Project Risk, where applicable. Each of these risk factors further sub divided into various parameters, which may be different for different type of industries. The rating methodology for non-banking financial services companies is based on CAMELS model encompassing, Capital adequacy, Asset quality, Management, Earnings, Liquidity, Systems and control. In 1995, RBI had set up a working group under the chairmanship of Shri S. Padmanabhan to review the banking supervision system. The Committee recommended that the banks should be rated on the lines of international CAMELS model.