The Reserve Bank of India (RBI) on April 10 simplified the process of applying to register as a core investment company after a comprehensive review, the central bank said in a release. "Accordingly, the application form has been revamped to make it structured and aligned with the extant Core Investment Company (CIC) regulations,"

The RBI  has also cut down the mandated list of documents to 18 from 52 earlier. The RBI can ask the applicant for further documentation, which the company must provide within one month of the demand, the release said.

It is to be noted, A core investment company is a non-bank finance company which holds not less than 90% of its net assets in the form of investment in equity shares, preference shares, bonds, debentures, debt or loans in group companies. At least 60% of its net assets must comprise investment in equity shares in group companies and units of infrastructure investment trusts

The RBI, may, if necessary, call for further document/s to satisfy itself on the eligibility of the company seeking registration as a core investment company. In the event of the RBI calling for further documents in addition to those mentioned in the list, the applicant company must respond within a stipulated time of one month.

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