SEBI proposes FICP network as corporate bond market tops 60L/cr
SEBI has proposed creating a new Fixed Income Channel Partners (FICP) network to make it easier for regular folks (especially in smaller cities) to invest in corporate bonds and fixed income securities.
The idea is to open up the bond market, much like mutual funds did for everyday investors.
This comes as India's corporate bond market hits over ₹60 lakh crore as of July 31, 2026.
FICP eligibility and noncustodial duties
If you're 18 or older, have finished Class 12, are an Indian citizen, and get a valid NISM certification in fixed income securities, you can become an FICP (AMFI registered mutual fund distributors can apply without paying an enlistment fee, provided they obtain the relevant NISM certification).
FICPs will guide investors through onboarding, documentation, KYC checks, and transactions, but won't actually handle anyone's money or securities themselves; client orders would have to be routed directly through the OBPP platform.