India could be planning to issue its first tokenized corporate bond in September 2026 as part of a joint pilot project between the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI).

Key BeneficiariesSelect Institutional Investors: During the initial pilot phase, access is restricted to a small cohort of pre-approved institutional investors (such as specific commercial banks, primary dealers, and institutional funds) equipped with the necessary digital infrastructure.