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Alternative Investment Funds(AIFs)

Core Investment Companies (CICs)
•CICs are non-banking financial companies with asset size of ₹100 crore and above which carry on the business of acquisition of shares and securities, subject to certain conditions
•CICs having asset size of below Rs 100 crore are exempted from registration and regulation from the RBI, except if they wish to make overseas investments in the financial sector.
•The Reserve Bank has constituted a working group that will review the regulatory and supervisory framework for core investment companies
Alternative Investment Funds(AIFs);-
•Means any fund established or incorporated in india which is a privately pooled investment vehicle
•which collects funds from sophisticated investors,whether Indian or foreigners
•to invest largely in equity & equity-link instruments
•The Union Cabinet has approved the creation of an Alternative Investment Fund (AIF) of Rs. 25,000 crore [~ $ 3.6 billion] to provide last-mile funding for stalled affordable and middle-income housing projects across the country.
•The Cabinet also approved the establishment of a ‘Special Window’ to provide priority debt financing for completion of stalled housing projects in the affordable and middle-income housing sector.

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