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ARTICLE · 31 OCTOBER 2018

All Aboard The Bond Wagon: SEBI Board Meeting Decisions

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The Securities and Exchange Board of India in its meeting held on 18 August 2018, besides reviewing the total expense ratio of the mutual fund schemes and agreeing to introduce united payment interface ...

IndiaCorporate/Commercial Law
Manisha Shroff
Manisha Shroff
Rolwine Alva
Rolwine Alva
Nandini Paliwal
Nandini Paliwal
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The Securities and Exchange Board of India (SEBI) in its meeting held on 18 August 2018, besides reviewing the total expense ratio of the mutual fund schemes and agreeing to introduce united payment interface with ASBA facility for public issues, has also paved the way for further stimulating the bond market by removing the requirement of having 1% security deposit for public issue of debt securities and laying down the framework for enhanced market borrowings by large corporates through the bond route.

A brief overview of the changes affecting the bond market is provided below:

Framework for enhanced market borrowing by large corporates

The Finance Minister in the Union Budget of 2018-19 announced that "SEBI will also consider mandating, beginning with large Corporates, to meet about one-fourth of their financing needs from the debt market.". Pursuant thereto, SEBI released a consultation paper in July 2018 on "Designing a Framework for Enhanced Market

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