The Reserve Bank of India (RBI) said it has undertaken a comprehensive review of the system of processing of applications for registration of Core Investment Companies (CICs) to make the process smoother and hassle free.
Accordingly, the application form has been revamped to make it structured and aligned with the extant CIC regulations.
“Also, the number of documents to be furnished along with the application form has been reduced to 18 from the existing set of 52 documents to make the registration process user friendly,” RBI said in a statement.
The revised application form together with an indicative list of documents/information to be furnished along with the application has been uploaded on the RBI website.
The RBI said the documents to be furnished along with the application are indicative and not exhaustive.
“The Reserve Bank, may, if necessary, call for further document/s to satisfy itself on the eligibility of the company seeking registration as a CIC. In the event of the Reserve Bank calling for further documents in addition to those mentioned in the list, the applicant company must respond within a stipulated time of one month,” the statement added.
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