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The Reserve Bank of India has simplified the application process for registration of core investment companies (CICs), reducing the the number of documents to be furnished along with the application form to 18 from the existing set of 52 documents.
The Reserve Bank said the simplification in the application process for registration is to make the registration process smoother and hassle free.
18 documents
The central bank said the 18 documents, including certified copy of Certificate of Incorporation of the company, Details of access to public funds, and credit bureau report pertaining to directors of the company, to be furnished along with the application are indicative and not exhaustive.
The central bank, may, if necessary, call for further document/s to satisfy itself on the eligibility of the company seeking registration as a CIC. In the event of the RBI calling for further documents in addition to those mentioned in the list, the applicant company must respond within a stipulated time of one month.
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