BANKING AFFAIRS

Detailed explanation-1: -Core Investment Company (CIC) are specialized Non-Banking Financial Companies that need to undergo NBFC registration with the RBI. These CICs, which have an asset size of ₹100 crore and above, carry on the business of acquisition of shares and securities, subject to certain conditions.

Detailed explanation-2: -CIC’s with asset size of Rs. 100 crore or more are treated as systemically important Core Investment Company (CIC-ND-SI) by RBI.

Detailed explanation-3: -A Core Investment Company (CIC) is a Non-Banking Financial Company (NBFC) which carries on the business of acquisition of shares and securities and 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.

Detailed explanation-4: -Membership under Credit Information Companies Act (CIC Act) Agencies/organisations which satisfy the set criteria are eligible. The following can become members of CIC: New Banks (regional rural banks, cooperative banks, etc.) NBFCs which adhere to the provisions of the Reserve Bank of India Act.

Detailed explanation-5: -Core Investment Companies with asset size of less than ₹ 100 crore, and those with asset size of ₹ 100 crore and above but not accessing public funds are exempted from registration with the RBI. 10. What are the different types/categories of NBFCs registered with RBI?