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    <title>Modifications to provisions of Chapter XXI of NCS Master Circular dealing with registration and regulatory framework for Online Bond Platform Providers (OBPPs)</title>
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    <description>Modifications restrict OBPP offerings to listed debt instruments, debt proposed for listing via public offering, listed government securities, listed sovereign gold bonds and other products regulated by other financial sector regulators; such cross-regulator products must be hosted separately and carry a clear disclaimer identifying the regulator. OBPPs must divest non permitted offerings, enter written agreements with third party sellers defining rights and obligations before onboarding, and issue prompt electronic order receipts, deal sheets on execution and quote receipts to sellers. Advertising must carry a prescribed risk warning and non compliance attracts action under applicable securities law.</description>
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