Business Standard
Markets regulator Sebi on Tuesday proposed allowing Online Bond Platform Providers (OBPPs) to offer products or services regulated by International Financial Services Centres Authority (IFSCA) and certain tax-saving bonds under the Income Tax Act. Currently, OBPPs can offer products or securities or services regulated by a financial sector regulator such as Sebi, Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (Irdai), and Pension Fund Regulatory and Development Authority (PFRDA) . However, there is no provision to permit OBPPs to offer products or securities or services that are regulated by IFSCA. "In view of the request made by IFSCA and to promote ease of doing business, it is proposed that OBPPs may be permitted to offer products or securities or services regulated by IFSCA, in compliance with applicable guidelines under the Foreign Exchange Management Act (FEMA), 1999, including Overseas Investment Rules and limits under the Liberalised ..
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