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In a bid to encourage investments in core sector projects, the RBI has decided to permit core investment companies (CICs) to act as sponsors to issuances by Infrastructure Investment Trusts (InvITs). CICs will also be permitted to reckon their holdings of InvIT units as sponsors as part of the sub-limit of 60 per cent for equity investments in group companies. CICs are registered with the RBI as NBFCs but only invest in group companies.
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