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<h1>SEBI Introduces Regulation 22A for Interest Calculation on Municipal Debt Securities Using Actual/Actual Day Count Convention</h1> The Securities and Exchange Board of India (SEBI) has established Regulation 22A under the Issue and Listing of Municipal Debt Securities Regulations, 2015, which specifies the day count convention for calculating interest payments on municipal debt securities. This convention is identified as Actual/Actual and must be calculated in a manner specified by SEBI. This regulation applies to both public issues and private placements of municipal debt securities. The provision was inserted through a notification dated September 27, 2019.