The Securities and Exchange Board of India (SEBI) on May 05, 2026, issued a Consultation paper on modifications to the regulatory framework for Online Bond Platform Providers (OBPPs), including measures for promoting ease of doing business.
The following has been stated:-
•SEBI has proposed modifications to the regulatory framework for Online Bond Platform Providers (OBPPs) to enhance clarity and ease of doing business.
•It suggests allowing OBPPs to offer 54EC tax-saving bonds (and Section 85 bonds under the Income-tax Act, 2025) on their platforms with proper disclosures of features and clear disclaimers that grievance redressal lies with the issuer, not SEBI.
•The proposal also includes permitting products regulated by other financial regulators, like IFSCA.
•Further, SEBI aims to align compliance officer requirements for OBPPs with stock brokers, removing the mandatory requirement of appointing only a Company Secretary.
•These changes are based on stakeholder feedback and recommendations of CoBoSAC.
•Public comments have been invited on the proposals to ensure balanced regulation and investor protection until May 26, 2026.
•The circular, once finalized, will come into effect immediately with the necessary implementation by stock exchanges.
The detailed circular is given in the document below.
