Alerts & Updates 15th May 2026

Consultation Paper on Review of the SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015

Authors

KC JacobPartner | Mumbai
Tanya Gupta
Tanya GuptaSenior Associate | Mumbai
Mridula Bhat
Mridula BhatAssociate | Mumbai

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Municipal Bond – SEBI has proposed significant amendments to the framework governing municipal debt securities under the SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015, including enhanced disclosure requirements, a dedicated pooled financing framework for municipalities, ESG municipal debt issuances, and alignment with the NCS Regulations. The proposals are aimed at strengthening the municipal bond market ecosystem, facilitating retail participation, and improving operational clarity for issuers and intermediaries.

Read the detailed update here

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