Note from Aditya Gadge

Dear Participant,

We are pleased to present to you the 4th edition of our prestigious international contest- Credit Research Challenge 2021 (CRC21).

The first 3 editions of CRC were a resounding success with each edition getting a participation of 400+ teams and 100+ premier B-Schools in India. The contest has been getting more exciting and engaging with each passing year. This year the Credit Research Challenge is taking a quantum leap from its previous form as it will be conducted as not 1 but 2 different contests for the following 2 segments:

  • Students (UG & PG Students under the age of 30)
  • Financial Services Professionals ( under the age of 40)

CRC is the first-of-its-kind competition in the world which assesses candidates on their credit research skills. As we are all aware, Credit Education is the need of the hour for Indian banking sector today. Its an irony that Non-Performing Assets, Stressed Assets, the Insolvency and Bankruptcy Code, etc. are some of the words which are increasingly becoming synonymous with the Indian banking industry. For the Indian economy to come out of this vicious cycle, it is essential for banks and other financial institutions to enhance their credit assessment capabilities (both qualitative and quantitative).

Indian financial institutions on one hand need to take the leap towards re-skilling their credit teams to improve the quality of credit decision making and on the other hand work on developing the future talent pool. CRC is an effort by AIWMI in helping prepare the next generation of Credit Analysts.

CRC is an annual competition that provides students & young working professionals with hands-on training and intensive learning in credit research and analysis. CRC encourages students from all disciplines to use their analytical and creative thinking skills and analyze companies from a credit portfolio management perspective.

AIWMI has been at the forefront of credit research education in India through its flagship program- Certified Credit Research Analyst (CCRA) certification; the annual industry event- Credit Summit India; the innumerable knowledge workshops and last but not the least the exemplary research and advocacy work done over the past 7 years.


Today banking & credit markets are becoming more future oriented and data analytics, technology and artificial intelligence are helping financial institutions be on the forefront of innovation. The playing field of credit risk professionals, consultants and managers is continually changing. Developments in financial markets and updates in regulatory frameworks make it a challenging field that makes it vital for a candidate to stay on top of his game

CRC2020 will help students and professionals gain a deeper understanding of credit risk topics. The contest will draw a good balance between theory and practice to make it both challenging and valuable for the students.

The contest has been designed to first assess candidates on their basic understanding of credit sector and then educate them to use a structured and systematic approach to evaluate the credit standing of a company and assess the relative attractiveness of the risk-return profile of the investing/lending proposition. This prestigious contest will have the following rounds for all the 3 segments:

Round 1- Online Test

Round 2- Credit Education

Round 3- Credit Report Submission & Presentation

Round 4- Presentation to the Jury (Grand Finale)

Key Benefits:

  • Learn the latest, high-level knowledge on credit risk management and risk modelling.
  • Update knowledge on the new regulatory frameworks.
  • Combine theory and practice to stay on top of the profession.
  • Enhance employability and career opportunities.
  • Gain from lively interaction with international peers and networking opportunities.
  • Develop a more solid understanding of the mathematics behind credit risk modeling, which will help you to better understand the foundation of the formulas and models you regularly use.

Key Learning Outcomes:

  • Apply a structured approach to assess the creditworthiness of a borrower
  • Evaluate the performance of a company based on qualitative and quantitative frameworks and tools
  • Use appropriate market indicators, where available to understand refinancing risk and the market view on a credit
  • Identify the key factors that drive a company's future performance and evaluate the likely impact on its credit standing
  • cash flow approach to ascertain a company's ability to service/refinance its debt as it comes due
  • Review debt structures to assess to what extent they meet the commercial needs of the borrower and protect the lender’s interests We invite you to be a part of this unique experience.

We invite you to be a part of this defining knowledge experience.

Best regards,

Aditya Gadge
Founder & CEO