Business Update28 May 2025, 04:04 pm
Pilani Investment and Industries Corporation Ltd Receives RBI Approval for Conversion to Core Investment Company
AI Summary
Pilani Investment and Industries Corporation Ltd has received approval from the Reserve Bank of India (RBI) to convert from a Non-Banking Financial Company (NBFC-ICC) to a Core Investment Company (CIC). The company had previously submitted an application for this conversion, and the RBI has now issued a fresh Certificate of Registration. This conversion does not impact the company's operations as it was already operating as a Core Investment Company. The company will continue to operate under the same regulatory authority, RBI.
Key Highlights
- Pilani Investment and Industries Corporation Ltd has received approval from the RBI to convert from NBFC-ICC to CIC.
- The company had previously applied for this conversion.
- The RBI has issued a fresh Certificate of Registration for the conversion.
- The conversion does not impact the company's operations as it was already operating as a Core Investment Company.
- The company will continue to operate under the same regulatory authority, RBI.