SEBI
Securities law, listing rules and SEBI circulars.
11stories · New facility
October 2026
-
NABKISAN lists India’s first WASH-focused social bond on NSE, raises ₹180 crore at 8.10% coupon
₹180 crore, 8.10%, 5 yearsNew facilityNABKISAN Finance Limited, a NABARD subsidiary, listed a social bond dedicated exclusively to the Water, Sanitation and Hygiene (WASH) sector on the National Stock Exchange on 1 October 2026. The issue was oversubscribed 1.8 times and raised ₹180 crore. The five-year bond carries a coupon of 8.10 per cent, matures in September 2031 and is rated CRISIL AAA (Stable) and CARE AAA (Stable).
-
SEBI revamps its Document Number Verification System: subject matter of the letter now a mandatory field
Verify a SEBI letter onlineNew facilitySEBI has modified the system that lets a recipient check whether a letter or notice was really issued by SEBI. The ‘Subject Matter’ of the letter is now one of the mandatory fields, and the system follows the outward number format of SEBI’s E-Office. Letters issued before the revamped system went live in September 2026 can be verified by e-mail to dnvs@sebi.gov.in.
September 2026
-
SEBI issues a fresh Master Circular for Debenture Trustees on 28 September 2026; the August 2025 Master Circular is rescinded
DT Master Circular, 28 Sep 2026New facilitySEBI has issued a new Master Circular for Debenture Trustees dated 28 September 2026, compiling the circulars in force on that date in 17 chapters. The Master Circular of 13 August 2025 stands rescinded, with actions taken under it saved. Annexure 1 lists five superseded circulars, including those on issuer reporting timelines, the Recovery Expenses Fund and activities outside SEBI’s purview.
-
SEBI Board: first-time debt issuers need not list old NCDs, one advertisement code for seven intermediaries, new Settlement Regulations and Depository Receipts on REIT/InvIT units
Reg 62A eased; one ad codeNew facilityFour decisions of the SEBI Board of 24 September 2026 matter to issuers and regulated entities: Regulation 62A of the LODR Regulations will require listing only of future NCD issues; a Common Advertisement Code drops prior approval for most advertisements; Settlement Regulations, 2026 bring a new formula and a settlement notice before the show cause notice; and REITs and InvITs get Depository Receipts and easier unitholder voting.
-
SEBI Board approves Portfolio Managers Regulations, 2026: IPO investing, a ₹25 lakh mutual fund route (PRIM) and Independent Fund Managers
New PMS Regulations, 2026 approvedNew facilityThe SEBI Board has approved the SEBI (Portfolio Managers) Regulations, 2026 to supersede the 2020 Regulations. Portfolio managers will be able to invest client money in IPOs, foreign securities and direct plans of mutual funds through a new PRIM route, and work with Independent Fund Managers. Graduates become eligible as Principal Officer, and the rulebook shrinks from 70 pages to 33.
-
SEBI Board meeting of 24 September 2026: all 13 items in one table — new Portfolio Managers and Settlement Regulations, FPIs in commodity derivatives, Accredited Investor changes
SEBI Board: 13 itemsNew facilityThe 215th meeting of the SEBI Board, held in Mumbai on 24 September 2026, cleared a long list: new Portfolio Managers Regulations, new Settlement Regulations, a Common Advertisement Code, FPIs in more commodity derivatives, wider Vault Manager rules, changes for REITs and InvITs, an easier debt-listing rule and a reworked Accredited Investor framework. A fourth settlement scheme for illiquid stock options was placed before it.
-
NPS Swasthya operational guidelines issued: pension account with a mandatory super top-up health cover, ₹1,000 minimum investment, withdrawals paid straight to hospitals
NPS Swasthya: ₹1,000 + premiumNew facilityPFRDA has issued the Operational Guidelines for NPS Swasthya, 2026. The scheme pairs an NPS Swasthya investment account with a mandatory super top-up health insurance policy. Minimum initial contribution is the first-year premium plus ₹200 annual maintenance charge plus ₹1,000 investment. Partial withdrawals for healthcare, up to 25% of own contributions, are paid directly to the hospital.
-
SEBI extends Samuhik Prativedan Manch common reporting platform to clearing members who are also stock brokers; first phase proposed from 30 September 2026
14 reports, one platformNew facilitySEBI, in consultation with Clearing Corporations, is extending the Samuhik Prativedan Manch — the common reporting platform for stock brokers — to members of Clearing Corporations who are also stock brokers. The first phase, proposed from 30 September 2026, covers 14 compliance reports, about 60% of their reporting requirements. Around 1066 clearing members stand to benefit.
-
SEBI launches “Demat 2.0” pilot for tokenised corporate bonds; three issuers raise ₹1,025 crore, funds leg settled in RBI’s wholesale e₹
Demat 2.0: ₹1,025 crore raisedNew facilitySEBI has announced the launch of “Demat 2.0”, a pilot in which corporate bonds are created as digital tokens on a distributed ledger owned by the depositories and settled against RBI’s wholesale CBDC (e₹). REC, L&T and IIFL have issued tokenised bonds aggregating ₹1,025 crore. Credit rating, debenture trustee, listing and disclosure requirements continue to apply in full.
August 2026
-
KYC Registration Agencies may share information with IFSCA-regulated entities: SEBI specifies IFSCA under regulation 16A of the KRA Regulations
KRA access for IFSCA entitiesNew facilitySEBI has specified the International Financial Services Centres Authority (IFSCA) under regulation 16A(1) of the KRA Regulations, 2011. Entities regulated by IFSCA may now access the systems of SEBI-registered KYC Registration Agencies to do KYC of their clients. They must follow the KRA Regulations, SEBI’s KYC Master Circular and, for FPI clients, the data security guidelines in the FPI Master Circular.
-
SEBI to carry out about one-third as many inspections of brokers, DPs, IAs and RAs in FY 2026-27; repetitive annual inspections of compliant entities discontinued
Inspections cut to one-thirdNew facilitySEBI has adopted an enhanced approach to inspecting market intermediaries from FY 2026-27. Its targeted number of inspections of stock brokers, DPs, IAs and RAs is rationalised to approximately one-third of the previous year. Repetitive annual comprehensive inspections of compliant entities, especially QSBs, are being discontinued, and entities are shortlisted quarterly on risk parameters.
The morning brief
One email each working morning with the day’s tax, GST and company-law news. It is starting soon; leave your address and it comes to you from day one.