The changes largely focus on improving processes, tightening compliance, and enhancing investor services.
Here’s a breakdown of what has changed and what it means for investors.
What has changed
Mandatory online access by September 2026
RBI has asked all receiving offices (ROs) to provide an online application facility for these bonds by September 30, 2026. Investors will be able to apply digitally in addition to existing offline modes.
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Push for digital investor services
By December 31, 2026, ROs must enable online features such as:
- Viewing bond holdings
- Changing nominees
- Requesting premature withdrawal
- Downloading certificates and statements
Faster issuance timelines
Banks must issue the Certificate of Holding (CoH) within three working days of receiving funds, ensuring quicker confirmation of investments.
Tighter timelines and penalties for banks
ROs must remit investor funds to RBI within two working days. Delays can lead to penalties and recovery of interest losses from the bank.
Stronger compensation rules
If there is any delay in interest payments or maturity proceeds due to the bank’s fault, investors must be compensated at the applicable interest rate.
Clearer nomination and claim process
The revised guidelines standardise nomination rules and allow:
- Multiple nominees with defined allocation
- Easier transfer of bonds in case of the investor’s death
Improved grievance redressal
Banks must resolve investor complaints within five working days and provide a clear escalation mechanism, including the option to approach RBI.
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