Master Direction – Core Investment Companies (Reserve Bank) Directions, 2016
This Master Direction outlines the regulatory framework for Core Investment Companies (CICs) in India.
Applicability: The directions apply to all CICs registered with the Reserve Bank of India (RBI).
Registration: CICs are required to register with the RBI and obtain a Certificate of Registration.
Capital Requirements: CICs must maintain a minimum capital requirement, which includes both on-balance sheet and off-balance sheet assets.
Risk Management and Governance: CICs are required to have a robust risk management framework and governance structure in place.
Miscellaneous: The directions also cover miscellaneous aspects, including investment from FATF non-compliant jurisdictions and group structure.
The Master Direction is divided into four sections: Introduction, Prudential Issues, Risk Management and Governance Issues, and Miscellaneous.
The Annex to the Master Direction provides additional information and guidelines for CICs.
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