| Aspect | Details |
|---|---|
| Regulatory Body | Securities and Exchange Board of India (SEBI) |
| Announcement Date | 18 December 2025 |
| Key Reform | Allowed zero-coupon bonds to be issued in denominations of ₹10,000. |
| Earlier Restriction | Only interest-bearing securities could be issued in smaller denominations. |
| Zero-Coupon Bonds | - No periodic interest payments. |
| - Issued at discount, redeemed at par. | |
| - Returns come from price appreciation. | |
| Objective | - Widen retail investor participation. |
| - Improve accessibility to debt instruments. | |
| - Strengthen corporate bond market liquidity. | |
| Significance | - Democratizes access for retail investors. |
| - Enhances product diversity in debt markets. | |
| Question Answer | (C) SEBI |
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