Core Investment Companies (CICs)
- Recently, the Reserve Bank of India (RBI) simplified the application process for the registration of core investment companies (CICs).
- CICs are non-banking financial companies with asset size of Rs.100 crore and above which carry on the business of acquisition of shares and securities, subject to certain conditions.
- CICs, which are allowed to accept public funds, hold not less than 90% of their net assets in the form of investment in equity shares, preference shares, bonds, debentures, debt or loans in group companies.
- Investments of CIC in the equity shares (including instruments compulsorily convertible into equity shares within a period not ....
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