Registered Collective Investment Management Company (RCIM) is a SEBI-regulated intermediary that manages collective investment schemes like mutual funds and alternative investment funds. As of June 2026, SEBI's intermediary database shows no active RCIM registrations, indicating this category may be dormant or merged into other intermediary types. RCIMs were designed to provide professional fund management services under SEBI's regulatory framework, requiring specific registration, compliance standards, and operational guidelines for investor protection.

RCIM represents SEBI's attempt to create a distinct regulatory category for entities managing pooled investor funds. Unlike traditional mutual fund companies or AIF managers, RCIMs were conceptualized as specialized intermediaries focusing on collective investment management with potentially broader operational scope. The absence of active registrations as of June 2026 suggests either regulatory consolidation or industry evolution toward established categories like Asset Management Companies (AMCs) and AIF managers. This reflects SEBI's dynamic approach to intermediary regulation - introducing new categories when market needs arise, then rationalizing them based on practical implementation. For SEBI Grade A candidates, understanding dormant or evolved regulatory categories demonstrates comprehensive knowledge of how financial regulation adapts. The RCIM framework likely required compliance with investment advisory regulations, AIF guidelines, and mutual fund norms depending on the schemes managed. Key aspects would include minimum net worth requirements, fit-and-proper criteria for key personnel, operational risk management, and investor grievance mechanisms. The regulatory gap indicates SEBI's preference for specialized intermediary categories rather than catch-all registrations, ensuring targeted oversight for different investment management activities.