2. On the basis of representations received from some UCBs regarding investment in shares of Market Infrastructure Companies (MICs), the following decision has been taken:
Investments made by UCBs for acquiring membership of MICs will be reckoned as Non-SLR investments;
UCBs are allowed to exceed the limit for investments in Non-SLR/unlisted securities prescribed in Circular dated January 30, 2009, if it becomes necessary to do so for acquiring membership of MICs;
The MICs eligible for such investments by UCBs are Clearing Corporation of India Ltd., National Payments Corporation of India and Society for World Wide Inter-Bank Financial Tele-Communication (SWIFT). The list of eligible MICs will be updated from time to time by the Reserve Bank of India.