The Securities and Exchange Board of India has expanded the products that online bond platform providers may offer to include instruments and services regulated by the International Financial Services Centres Authority, as well as tax-specific bonds issued under Section 54EC of the Income Tax Act, 1961 or Section 85 of the Income-tax Act, 2025. The changes take effect immediately and also replace the requirement to appoint a company secretary as compliance officer with a requirement to appoint a compliance officer under the Securities and Exchange Board of India Stock Brokers Regulations, 2026 who meets the prescribed certification requirements. International Financial Services Centres Authority-regulated offerings must comply with the rules applicable to Securities and Exchange Board of India-registered stock brokers operating in GIFT International Financial Services Centre, relevant foreign exchange requirements and Liberalised Remittance Scheme limits. They must also be clearly labelled as international or overseas instruments. For the specified tax bonds, platforms must disclose key product features and tax eligibility conditions, state that grievance redress rests with the issuer rather than the Securities and Exchange Board of India, and present the instruments separately either under a different platform tab or on another website.

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