Economics · NBFC Regulatory Framework

Consider the following statements regarding the regulatory guidelines for Core Investment Companies (CICs) within the Indian financial system: Statement 1: A CIC must hold not less than 90% of its total assets in the form of investment in equity shares, preference shares, bonds, debentures, debt, or loans in group companies. Statement 2: The investment of a CIC in equity shares (including instruments compulsorily convertible into equity shares within 10 years) in group companies must not be less than 60% of its total assets. Statement 3: Any CIC with an asset size of Rs. 100 crore and above which accepts or intends to accept public funds is considered a Systemically Important Core Investment Company (CIC-SI) and must obtain a Certificate of Registration from the RBI. Statement 4: CICs are permitted to carry on other business activities such as underwriting, stock-broking, and insurance agency business provided these activities contribute less than 20% of their total income. Which of the combinations below is correct?