Amendment to Listing Regulations: corrigendum revises enabling provision and mandates prompt crediting of dematerialised securities.
The corrigendum replaces the enabling provision to state SEBI's power under section 11, sub section (2) of section 11A and section 30 of the SEBI Act read with section 31 of the SCRA for amending the Listing Regulations, revises regulation 39(2) to require listed entities to credit dematerialised securities following investor service requests for subdivision, split, consolidation, renewal, exchanges and issuance of duplicate securities within thirty days of receiving the request and documents, and effects specified renumbering corrections in paragraphs VI.(c) and XI.(d).

Threshold change for high-value debt listed entities alters governance and disclosure obligations under listing regulations.
The amendment increases the threshold for classification as a high-value debt listed entity and revises transitional applicability; mandates crediting investor service requests for subdivision, split, consolidation, renewal, exchanges and duplicate securities in dematerialised form within thirty days; requires transfers and transmissions only in dematerialised form with limited grandfathering for specified physical transfers; directs unclaimed escrow amounts to prescribed investor protection funds without interest; centralises periodic corporate governance compliance reporting for HVDLEs; and modifies board appointment, vacancy-filling, meeting frequency, related party transaction carve-outs, subsidiary measurement and secretarial audit annexure requirements.

Non-convertible debt securities now allow incentives for retail investors ( Rs. 2 lakh) and specified categories, limited to initial allottees.
Amendment defines "retail individual investor" as an individual applying or bidding for debt securities up to two lakhs rupees and permits issuers to offer additional interest or an issue-price discount to specified categories of investors, including retail individual investors, senior citizens, women and defence personnel; such incentives are available only to the initial allottee and not on post-allotment transfer or transmission.

Mutual funds regulations set registration, governance, investment limits, trustee oversight, NAV, expense caps and enforcement rules.
These regulations create a comprehensive regime for mutual funds, specifying procedures for obtaining a certificate of registration, detailed eligibility and continuous net worth requirements for sponsors and AMCs, trustee duties to supervise AMCs and protect unitholders, operational obligations for AMCs (systems, key personnel, co investment and broker limits), investment categories and restrictions, daily NAV computation, expense ratio caps and disclosure requirements, tailored regimes for Specialized Investment Funds and Mutual Fund Lite, and Board powers for inspection, enforcement and regulatory relief.

Credit rating agency regulations amended to permit Board specified activities and ratings under other regulators' purview.
Regulation 9(f) is amended to permit credit rating agencies to carry out any other activities as specified by the Board and to carry out ratings of financial instruments under the purview of other financial sector regulators or authorities specified by the Board. The substituted Explanation requires ratings to be in accordance with the respective rating guidelines specified by the relevant regulator or authority and remain under that regulator's purview. The existing proviso to clause (f) is omitted.

Renewal of recognition to AMC Repo Clearing Limited for one year, limited to repo clearing and settlement in debt securities.
Renewal of recognition is granted to AMC Repo Clearing Limited for one year from 17 January 2026 to 16 January 2027, under the statutory recognition framework, subject to compliance with conditions prescribed by rules or specified by the regulator, and on the proviso that the Clearing Corporation shall undertake only clearing and settling of repo and reverse repo transactions in debt securities dealt with or traded on a recognized stock exchange.

Stock brokers and clearing members must register, meet networth and conduct standards, and implement surveillance and reporting systems.
These regulations create a framework for registration and regulation of stock brokers and clearing members: procedures for grant or refusal of a certificate, eligibility and fit and proper criteria, conditions on certificates including notification of material changes and prior approval for change in control, and transitional requirements. Registered brokers must maintain prescribed books and records, appoint a compliance officer, protect client funds and securities, implement risk management and cybersecurity, adhere to conduct standards, and comply with surveillance, whistleblower and reporting obligations. Inspections, audits, fee collection, networth and deposit requirements, and enforcement powers are specified.

Securities notification corrigendum corrects numbering of sub-regulations and schedule items in prior Gazette publication for clarity.
Corrigendum effects numbering corrections to a prior securities notification: Regulation 6's sub-regulation (3) is to be read as (2); Regulation 10's sub-regulation (5) is to be read as (4); Schedule I, Form A, Part I item 5 sub-items 5.8-5.10 are to be read as 5.5-5.7 respectively; and Schedule III, clause 31 sub-clauses d-f are to be read as a-c.