The market-regulator SEBI slapped the rating agencies ICRA and CARE with a fine of Rs.25-lakh each for "vivid and obvious" failure to flag the dwindling financial health of IL&FS, collapse of which sparked a-liquidity-crisis in the country. Both ICRA and CARE were given 45-days each to pay the total-amount of penalty for their failure to exercise due diligence while discharging their responsibilities as credit-rating-agencies.