SEBI Chairman Tuhin Kanta Pandey
India’s market regulator is preparing a fresh round of policy and market-structure reforms aimed at sustaining capital formation and reducing friction for issuers and investors as capital markets assume a larger role in funding economic growth, Securities and Exchange Board of India (SEBI) chairman Tuhin Kanta Pandey said on Friday.
Speaking at SEBI’s Samvad 2026 symposium, Pandey said the regulator’s focus going ahead will be on easing fund-raising processes, deepening debt and private capital markets, widening investor participation and strengthening market infrastructure through technology-led measures.
“Indian markets should be rigorous in standards, but reasonable in processes,” Pandey said, outlining SEBI’s regulatory philosophy of enabling growth while safeguarding market integrity.
Pandey said SEBI is continuing its review of key regulations, including listing obligations, settlement norms and frameworks governing mutual funds and stock brokers, to make them more coherent and contemporary. Recent and ongoing measures include streamlining IPO processes, simplifying compliance pathways and recommending changes to minimum public shareholding thresholds and timelines, particularly for large issuers.
For companies tapping markets, SEBI has also introduced practical flexibilities, including facilitating compliance with lock-in norms even when shares are pledged and allowing founders to retain certain ESOPs post-listing without compromising disclosure standards. “Access to capital must be efficient and predictable,” Pandey said.
Debt deepening
Deepening market depth, especially in debt, remains a priority. Pandey said SEBI has lowered thresholds under the electronic book mechanism and expanded its scope to include REITs and InvITs. For foreign portfolio investors, SEBI is moving towards unified registration and simplified documentation under the SWAGAT–FIs framework. “We are also progressing towards fully paperless, digitally signed onboarding for FPIs, reducing compliance friction while maintaining regulatory oversight,” Pandey said.
Pandey said expanding participation remains critical to sustaining growth. Distributor incentives have been redesigned to encourage onboarding of first-time investors from smaller towns and increase participation by women. SEBI has also eased KYC norms for non-resident Indians and is considering greater use of shared KRA data to reduce repetitive documentation
Published on January 16, 2026
