Question : On which date RBI tightened the norms for core investment companies (CICs) ?
(a)12 August 2020
(b)11 August 2020
(c)10 August 2020
(d)None of the above
Answer : (d)
Related facts
- The Reserve Bank of India (RBI) on Thursday(13 August 2020) tightened the norms for core investment companies (CICs), based on the recommendations received from the working group which was formed to review the framework.
- The working group also received feedback from all the stakeholders.
Based on the recommendations of the WG and inputs received from stakeholders, it has been decided to revise the guidelines applicable for Core Investment Companies.
Core Investment Companies
- Core Investment Companies (CICs) are a specialized Non-Banking Financial Companies (NBFCs).
- Their main business is acquisition of shares and securities with certain conditions.
By — Pankaj Pandey