TVS Holdings and Jio Financial Services seek registration as Core Investment Companies (CICs) with the RBI. CICs, specialized NBFCs with over Rs 100 crore in assets, mainly deal in shares and securities.
A key condition mandates 90% of net assets invested in group companies. Recent RBI changes simplified the CIC registration process, reducing required documents from 52 to 18.
Larger CICs are regulated by the RBI, while those under Rs 100 crore are exempt, except with overseas investments in the financial sector.