RBI proposes demat-only securitisation notes, retains ₹1 crore ticket size

Draft amendments require commercial banks to issue securitisation notes in demat form while retaining the ₹1 crore minimum investment size for issuance and transfers

The Reserve Bank of India (RBI) on Monday proposed that all securitisation notes issued by commercial banks be in dematerialised form. The central bank retained the minimum investment size at ₹1 crore for issuance as well as subsequent transfers.

 

Under the Draft (Securitisation Transactions) Amendment Directions, the central bank suggested that the agreement between the originator and the special purpose entity (SPE) must include a clause ensuring compliance with the ₹1 crore minimum ticket size requirement on an ongoing basis. The RBI clarified that the ticket size refers to the investment made by a single investor.

 

Comments on the draft guidelines have been invited from the public and stakeholders until August 27, 2026. The changes will come into effect on October 1, 2026.

 

The central bank also proposed aligning the definition of a public offer of securitisation notes with the Securities and Exchange Board of India (Sebi) regulations. An offer will be deemed public if it is made to the number of persons specified under the Sebi (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations, 2008, as amended from time to time.