Securities and Exchange Board of India (SEBI) relaxes norms allowing issuers to sell zero-coupon debt securities at face value of Rs 10,000.

Exam-focused facts from the 20 December 2025 current affairs briefing.

Key facts

SEBI now permits issuers to offer zero-coupon debt securities with a fixed maturity and no structured obligations at a reduced face value of Rs 10,000.
The relaxation expands the July 2024 circular that previously allowed only interest-bearing or dividend-paying debt securities to be issued at Rs 10,000 face value.
Zero-coupon bonds are issued at a discount and redeemed at face value, with returns earned through price appreciation.