RBI simplifies application process for registration of Core Investment Companies

The Reserve Bank of India(RBI) has undertaken a comprehensive review of the system of processing of applications for registration as Core Investment Companies (CICs) to make the registration process smoother and hassle free.

As a result, the application form has been redesigned to be more structured and consistent with the current CIC standards. In addition, the number of documents required with the application form has been decreased from 52 to 18 in order to make the registration procedure more user-friendly.

The revised application form, as well as an indicative list of documents/information to be submitted with the application, has been posted on the RBI website. It should be noted that the documents required with the application are illustrative and not exhaustive.

If necessary, the Reserve Bank may request additional documentation to confirm the company’s eligibility for registration as a CIC. In the case that the Reserve Bank requests additional papers in addition to those on the list, the applicant company must answer within one month.