Core Investment Companies: A step forward?
The Reserve Bank of India officially added a new term ‘Core Investment Companies’ (CICs) to the Indian finance lexicon earlier this month. In doing so, the central bank has finally offered some clarity to the long standing question of whether an investment or holding company qualifies as a non-banking finance company (NBFC). The answer, it appears, is more “sort of". Though the introduction of the CICs brings much needed clarity, the accompanying regulatory framework still leaves several questions unanswered!
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