SEBI has proposed allowing online bond platforms to offer overseas-listed debt products regulated under the International Financial Services Centres Authority (IFSCA). The plan is designed to widen retail and investor access to foreign debt while strengthening Gujarat’s GIFT City as an international finance hub. SEBI also wants these platforms to sell tax-saving bonds issued by state-owned companies.
IFSCAs International Financial Services Centres Authority plans to roll out video-based KYC guidelines for NRI customers by November, aiming to make account opening and investing in GIFT City simpler. The move is expected to reduce or eliminate paper applications, while a faceless authentication system is being developed in coordination with UIDAI and the RBI.
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