MUMBAI: Crisil, the ratings, financial news, risk and policy advisory company and the Television Eighteen Group have today announced their decision to jointly develop a framework for business collaboration. 

The association aims to strengthen their offerings in the financial information, news and market data and analytics space. The partnership dates back with the CNBC TV18 -- Crisil Mutual Fund Awards, which has been well recognized by the industry and trade alike, states an official release.

In the recent past, the two have also joined hands to provide coverage of the Indian budget, powered primarily by the news and research arms of Crisil. CNBC-TV18's Emerging India Awards for SMEs is also powered by Crisil. The ratings and the financial news company has recently tied up with CNBC Awaaz for the Real Estate Awards that has been scheduled for November this year.

This has prompted the two organizations to explore their inherent synergies to build on this business collaboration.

Commenting on this development, Crisil Ltd CEO and managing director R. Ravimohan said "In this age of complex financial development of the financial markets, Crisil has found that partnering various leading firms serves the market's needs more effectively. In line with this strategy, we believe this partnership will lead to the development of high quality offerings that will serve the market cost effectively."

According to TV18 CEO Haresh Chawla said: "This is a unique opportunity where our brand and media strength in the financial news space can align with Crisil's proven research and news capabilities to build robust information and research based products."