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<h1>SEBI Clarifies Basel III Bond Valuation: Perpetual Bonds Deemed 100-Year Maturity; AMFI Guidelines Due April 2021.</h1> The Securities and Exchange Board of India (SEBI) issued a circular clarifying the valuation of bonds under the Basel III framework. It specifies that perpetual bonds will be treated as having a 100-year maturity for valuation purposes. A phased approach for the deemed residual maturity of Basel III AT-1 and Tier 2 bonds is outlined, with different maturity periods until April 2023, after which a 100-year maturity applies. If an issuer does not exercise a call option, the maturity is considered 100 years for AT-1 bonds. The Association of Mutual Funds in India (AMFI) is instructed to issue detailed guidelines by April 2021.