The Reserve Bank of India (RBI) mentioned it has undertaken a complete evaluate of the system of processing of functions for registration of Core Investment Companies (CICs) to make the process smoother and trouble free.
Accordingly, the application type has been revamped to make it structured and aligned with the extant CIC laws.
“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 mentioned in a press release.
The revised application type along with an indicative listing of paperwork/info to be furnished together with the application has been uploaded on the RBI web site.
The RBI mentioned the paperwork to be furnished together with the application are indicative and never 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 assertion added.
