MANU/RMIC/0116/2020

Ministry : Reserve Bank of India

Department/Board : Department of Regulation

Circular No. : DoR(NBFC)(PD)CC.No.117/03.10.001/2020-2021
                   RBI/2020-2021/24

Date : 13.08.2020

Notification/ Circulars Referred : Circular DOR (NBFC).CC.PD No.109/22.10.106/2019-20 dated March 13, 2020 MANU/RMIC/0029/2020 Circular DOR (NBFC).CC.PD No.109/22.10.106/2019-20 dated March 13, 2020 MANU/RMIC/0029/2020

Citing Reference:
Circular DOR (NBFC).CC.PD No.109/22.10.106/2019-20 dated March 13, 2020 MANU/RMIC/0029/2020  Referred

All Core Investment Companies (CICs)

Madam/Dear Sir,

Review of Guidelines for Core Investment Companies

Please refer to the report of the Working Group (WG) to Review the Regulatory and Supervisory Framework for Core Investment Companies (CICs), constituted under the Chairmanship of Shri Tapan Ray, former Secretary, Ministry of Corporate Affairs, Government of India. The report of the WG was placed in public domain in November 2018 seeking comments from the stakeholders. Based on the recommendations of the WG and inputs received from stakeholders, it has been decided to revise the guidelines applicable for Core Investment Companies.

2. Definition of Adjusted Net worth (ANW)

2.1 Reference is drawn to para 3 (i) of the Master Direction on Core Investment Companies (Reserve Bank) Directions, 2016. While computing Adjusted Net Worth (ANW), the amount representing any direct or indirect capital contribution made by one CIC in another CIC, to the extent such amount exceeds t........