MANU/RMIC/0040/2018

Ministry : Reserve Bank of India

Department/Board : Department of Non Banking Regulation

Circular No. : DNBR(PD)CC.No.093/03.10.001/2017-2018
                    RBI/2017-2018/189

Date : 07.06.2018

Systemically Important Core Investment Companies (CIC-NDSI)

Madam/ Sir,

Investment in the units of an infrastructure investment trust (InvIT) by sponsor CIC-NDSI

In order to enable Systemically Important Core Investment Companies (CIC-NDSI) to act as a sponsor of InvITs, it has been decided to permit CIC-NDSIs to hold InvIT units only as a sponsor. Exposure of such CICs towards InvITs shall be limited to their holdings as sponsors and shall not, at any point in time, exceed the minimum holding of units and tenor prescribed in this regard by SEBI (Infrastructure Investment Trusts) Regulations, 2014.

2. The above holdings of InvIT units shall be reckoned as investments in equity shares in group companies, for the purpose of compliance with the norms prescribed at paragraphs 2(1) (i) & (ii) of the Master Direction - Core Investment Companies (Reserve Bank) Directions, 2016 as updated from time to time.

3. The aforesaid Master Direction has been updated accordingly.

Yours faithfully
(Manoranjan Mishra)
Chief General Manager