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October 2026
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SEBISEBI makes a colour-coded Credit Risk-o-Meter mandatory in debt offer documents, advertisements and online bond platforms: Circular HO/17/11/22(1)2026-DDHS-POD1/I/23092/2026
Six risk levels, AAA to DNew facilitySEBI has introduced a Credit Risk-o-Meter, a colour-coded pictorial meter that maps credit ratings from AAA to D into six levels of credit risk. It becomes a mandatory part of offer documents, abridged prospectuses, private placement memoranda, all advertisements of issuers and Online Bond Platform Providers (OBPPs), and the web and mobile platforms of OBPPs. The circular comes into force after 45 days from its date of issuance, 7 October 2026.
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Foreign TradeCabinet approves Integrated Transport & Logistics Authority (ITLA) as an SPV; technical appraisal for central infrastructure projects of ₹500 crore or more
Projects of ₹500 crore or moreNew facilityThe Union Cabinet on 6 October 2026 approved the setting up of a Special Purpose Vehicle, the Integrated Transport & Logistics Authority (ITLA), for research, planning, appraisal, monitoring and impact assessment in transportation and logistics. ITLA will prepare a National Transport Master Plan, technically appraise Government of India infrastructure projects costing ₹500 crore or more, and build a National Transport Data Repository using sources such as GSTN e-way bill, FASTag and Vahan. The release does not say when ITLA will start functioning.
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Startup & MSMECabinet approves ₹10,000 crore Government commitment to SME Growth Fund for direct equity investment in small and medium enterprises
₹10,000 crore for SME equityNew facilityThe Union Cabinet on 6 October 2026 approved a Government of India commitment of ₹10,000 crore towards the SME Growth Fund (SGF), which is to provide growth equity capital to small and medium enterprises. The money goes to an Alternative Investment Fund set up under the SGF framework, and the majority allocation is to be made to small and medium manufacturing-focused enterprises. The release does not give eligibility conditions, a fund manager or a start date.
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SEBINABKISAN lists India’s first WASH-focused social bond on NSE, raises ₹180 crore at 8.10% coupon
₹180 crore, 8.10%, 5 yearsNew facilityNABKISAN Finance Limited, a NABARD subsidiary, listed a social bond dedicated exclusively to the Water, Sanitation and Hygiene (WASH) sector on the National Stock Exchange on 1 October 2026. The issue was oversubscribed 1.8 times and raised ₹180 crore. The five-year bond carries a coupon of 8.10 per cent, matures in September 2031 and is rated CRISIL AAA (Stable) and CARE AAA (Stable).
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Startup & MSMEGOBARdhan compressed biogas scheme launched: ₹23,731 crore outlay, capital assistance up to ₹2 crore per TPD and credit guarantee for MSME plants
CBG price ₹2,110 per MMBtuNew facilityGOBARdhan, the unified scheme for compressed biogas (CBG), was approved by the Union Cabinet on 6 August 2026 with an outlay of ₹23,731 crore for FY 2026-27 to FY 2035-36 and launched on 1 October 2026 with a Handbook and a Unified GOBARdhan Portal. It offers an administered CBG price of ₹2,110 per MMBtu, capital assistance and a credit guarantee for MSME projects.
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CustomsICEGATE now verifies AD Code and incentive bank accounts directly with banks through API; no document upload for API-integrated banks
Bank verification by APINew facilityICEGATE has integrated with participating banks to verify AD Code and incentive bank account details electronically. For API-integrated banks, the user need not select a document type or upload a document with IRN. The advisory of 1 October 2026 lists what must match across ICEGATE, DGFT and bank records, and the common reasons a verification fails.
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InsolvencyIBBI releases “Shaping the Next Decade of IBC: The Road Ahead” — 19 research papers, from crypto insolvency to group insolvency
19 papers on IBC’s next decadeNew facilityThe Insolvency and Bankruptcy Board of India has published its 2026 research volume, a collection of 19 papers by outside authors. The preface records the Code’s ten-year numbers till June 2026: 4,227 distressed entities rescued, 3,074 liquidation orders and over ₹4.35 lakh crore realised for creditors through resolution.
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SEBISEBI revamps its Document Number Verification System: subject matter of the letter now a mandatory field
Verify a SEBI letter onlineNew facilitySEBI has modified the system that lets a recipient check whether a letter or notice was really issued by SEBI. The ‘Subject Matter’ of the letter is now one of the mandatory fields, and the system follows the outward number format of SEBI’s E-Office. Letters issued before the revamped system went live in September 2026 can be verified by e-mail to dnvs@sebi.gov.in.
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GSTGST portal opens “Multistate Registration”: apply for several States under one PAN in one go
One PAN, many StatesNew facilityGSTN has added a Multistate Registration tab on the portal home page. Common details are entered once through a Master TRN and flow into each State application. For now it is only for normal taxpayers.
September 2026
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Accounting & AuditNFRA lists 35 questions an audit committee may put to the statutory auditor on going concern under SA 570 (Revised)
Going concern: 35 questionsNew facilitySeries 6 of NFRA’s Auditor–Audit Committee Interaction papers deals with the going concern assessment. It sets out six situations under SA 570 (Revised) with the reporting outcome of each, explains why the CARO 2020 clause 3(xix) answer can differ from the SA 570 conclusion, and lists 35 questions an auditor may expect.
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Startup & MSMEPRIP scheme second call open: new discovery track of up to ₹50 crore for startups and MSMEs, alongside early-stage and later-stage tracks
PRIP: up to ₹50 crore new trackNew facilityThe Department of Pharmaceuticals has opened the PRIP portal for the second call of the ₹5,000 crore Promotion of Research and Innovation in Pharma & MedTech scheme and added a New Discovery track: up to ₹50 crore for startups and MSMEs doing NCE/NBE projects at TRL 1–3, with at least 25% co-funding from bona fide institutional investors.
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SEBISEBI issues a fresh Master Circular for Debenture Trustees on 28 September 2026; the August 2025 Master Circular is rescinded
DT Master Circular, 28 Sep 2026New facilitySEBI has issued a new Master Circular for Debenture Trustees dated 28 September 2026, compiling the circulars in force on that date in 17 chapters. The Master Circular of 13 August 2025 stands rescinded, with actions taken under it saved. Annexure 1 lists five superseded circulars, including those on issuer reporting timelines, the Recovery Expenses Fund and activities outside SEBI’s purview.
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CustomsThree more certificates on ICEGATE’s SWIFT 2.0 dashboard: Legal Metrology importer registration, MNRE concessional duty certificate and Coffee Board export permit
SWIFT 2.0: three more LPCOsNew facilityCBIC has brought three more certificates onto the SWIFT 2.0 Unified Dashboard on ICEGATE. The Legal Metrology certificate of registration of importer of weights and measures is now applied for there, all over India, and no longer on the LM portal. The MNRE Concessional Customs Duty Certificate (from 7 August 2026) and the Coffee Board Export Permit Certificate (from 27 July 2026) can be tracked and downloaded.
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CustomsSurat rough-diamond Special Notified Zone to shift to Surat Diamond Bourse, Khajod: CBIC Circular 44/2026-Customs
SNZ at Surat Diamond BourseNew facilityCBIC has allowed a Special Notified Zone for rough diamonds at Surat International Diatrade Centre, 2nd Floor, Tower-B, Surat Diamond Bourse, Khajod. Imports only by air cargo, re-packing of lots within 60 days and export of unsold lots within 75 days of import. The old SNZ at Gujarat Hira Bourse, Ichhapore is to be de-notified after the new one starts.
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Startup & MSMECGTMSE guarantee cover goes live on TReDS: 75% cover on invoice discounting where both buyer and seller are micro or small enterprises
CGTMSE cover on TReDS: 75%New facilityThe Ministry of MSME has rolled out credit guarantee cover on invoice discounting through TReDS. The CGTMSE portal is integrated with three platforms — M1xchange, RXIL and DTX (KredX). Under the Special Provision, both buyer and seller must be micro or small enterprises; the cover is 75% of the amount in default, with exposure up to ₹10 crore for a buyer and ₹2 crore for a seller.
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FEMA & RBIIFSCA issues differential distribution framework for Venture Capital and Restricted Schemes: one senior class, junior units from USD 2 million, grants up to 49% for ESG schemes
Junior units: min USD 2 millionNew facilityIFSCA has issued the framework under which Venture Capital Schemes and Restricted Schemes in the IFSC can issue senior and junior or subordinate units with different distribution rights, to facilitate blended finance. Minimum investment in junior units is USD 2 million (USD 1 million for accredited investors). ESG schemes may accept grants up to 49% of corpus.
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SEBISEBI Board: first-time debt issuers need not list old NCDs, one advertisement code for seven intermediaries, new Settlement Regulations and Depository Receipts on REIT/InvIT units
Reg 62A eased; one ad codeNew facilityFour decisions of the SEBI Board of 24 September 2026 matter to issuers and regulated entities: Regulation 62A of the LODR Regulations will require listing only of future NCD issues; a Common Advertisement Code drops prior approval for most advertisements; Settlement Regulations, 2026 bring a new formula and a settlement notice before the show cause notice; and REITs and InvITs get Depository Receipts and easier unitholder voting.
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SEBISEBI Board approves Portfolio Managers Regulations, 2026: IPO investing, a ₹25 lakh mutual fund route (PRIM) and Independent Fund Managers
New PMS Regulations, 2026 approvedNew facilityThe SEBI Board has approved the SEBI (Portfolio Managers) Regulations, 2026 to supersede the 2020 Regulations. Portfolio managers will be able to invest client money in IPOs, foreign securities and direct plans of mutual funds through a new PRIM route, and work with Independent Fund Managers. Graduates become eligible as Principal Officer, and the rulebook shrinks from 70 pages to 33.
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SEBISEBI Board meeting of 24 September 2026: all 13 items in one table — new Portfolio Managers and Settlement Regulations, FPIs in commodity derivatives, Accredited Investor changes
SEBI Board: 13 itemsNew facilityThe 215th meeting of the SEBI Board, held in Mumbai on 24 September 2026, cleared a long list: new Portfolio Managers Regulations, new Settlement Regulations, a Common Advertisement Code, FPIs in more commodity derivatives, wider Vault Manager rules, changes for REITs and InvITs, an easier debt-listing rule and a reworked Accredited Investor framework. A fourth settlement scheme for illiquid stock options was placed before it.
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CustomsCampbell Bay and Car Nicobar notified as customs ports for imports and exports: Notification 76/2026-Customs (N.T.)
Two new ports in A&N IslandsNew facilityCBIC has added Campbell Bay and Car Nicobar to the list of customs ports in the Union Territory of Andaman and Nicobar. Under Notification No. 76/2026-Customs (N.T.) dated 23 September 2026, both are appointed for unloading of imported goods and loading of export goods, or any class of such goods.
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