{"id":3269,"date":"2019-07-05T10:16:52","date_gmt":"2019-07-05T10:16:52","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=3269"},"modified":"2019-07-12T07:46:47","modified_gmt":"2019-07-12T07:46:47","slug":"rbi-form-panel-to-review-supervisory-framework-for-core-investment-companies","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/rbi-form-panel-to-review-supervisory-framework-for-core-investment-companies\/","title":{"rendered":"RBI form panel to review supervisory framework for core investment companies"},"content":{"rendered":"\n

Reserve Bank of India <\/strong>has set up a six-member working group<\/strong> to review the regulatory and supervisory framework for Core Investment Companies (CICs).<\/strong> The panel will be headed by Tapan Ray, Non-Executive Chairman, CBI. The move comes as the corporate group structures<\/strong> becomes more complex and layered. <\/strong>The working group has been asked to submit its report by October 31, 2019.<\/strong>
Lately, the corporate group structures have become more complex involving multiple layering and leveraging,<\/strong> which has led to greater inter-connectedness<\/strong> with the financial system through their access to public funds. <\/strong>The governance framework of CICs need to be strengthened due to elevated recent developments.

Function of the panel:<\/strong>
The current regulatory regime <\/strong>for CICs  will be reviewed by the panel. It will suggest changes to the current approach for their registration, including the practice of multiple CICs being allowed within a group.
It will also suggest measures to strengthen corporate governance <\/strong>and disclosure requirements for CICs.
It will assess the adequacy of supervisory returns<\/strong> submitted by these entities.
The committee will recommend appropriate measures to enhance RBI\u2019s off-sight surveillance<\/strong> and on-site supervision<\/strong> over CICs.

Member of the commitee:<\/strong>
Head:<\/strong> Tapan Ray,<\/strong> Non-Executive Chairman, Central Bank of India, and former Secretary, Ministry of Corporate Affairs
Other members of the working group:<\/strong>
Lily Vadera, <\/strong>Executive Director, RBI
Amarjeet Singh<\/strong>, Executive Director, SEBI
T Rabishankar, <\/strong>Chief General Manager, Financial Markets Regulation Department, RBI
HK Jena,<\/strong> Deputy Managing Director, SBI
NS Venkatesh<\/strong>, Chief Executive, Association of Mutual Funds in India.

Note:<\/strong>
In August 2010<\/strong>, RBI introduced a separate framework<\/strong> for the regulation of systemically important CICs<\/strong> after recognising the difference in the business model of a holding company compared to other non-banking financial companies (NBFCs).<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Reserve Bank of India has set up a six-member working group to review the regulatory and supervisory framework for Core Investment Companies (CICs). The panel will be headed by Tapan Ray, Non-Executive Chairman, CBI. The move comes as the corporate group structures becomes more complex and layered. The working group has been asked to submit […]<\/p>\n","protected":false},"author":13,"featured_media":3270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[64],"class_list":["post-3269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-reserve-bank-of-india-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=3269"}],"version-history":[{"count":2,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3269\/revisions"}],"predecessor-version":[{"id":3618,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3269\/revisions\/3618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/3270"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=3269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=3269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=3269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}