25/08/2026
SEBI has proposed a framework MFDs should watch closely.
Its Fixed Income Channel Partner (FICP) model would let you distribute bonds through Online Bond Platform Providers (OBPPs), adding a second product line to the client relationships you already hold.
You don’t handle client money or run the transaction; the platform does, and pays you from a client fee capped at 2.5%.
An accessible route into a ₹60 lakh crore market where retail participation is still thin. Our view: One of the more significant openings the profession has had in years.
It is still a proposal, with comments closing on 11 September.
Read the paper and register your view.