RBI reduces regulatory burden for investment companies
The number of documents required to register holding or core investment companies has been reduced from 52 to 18 by the Reserve Bank of India (RBI).
The RBI conducted a comprehensive review of the registration process for core investment companies (CICs). The necessary documents for registration now include details on access to public funds and certificate of incorporation apart from memorandum of association and credit bureau report and then copy of experience certificate and board resolution approving the application also required. It is that the company will not accept public deposits.
