Is this bond platform SEBI registered? How do I check?

Bond platforms register with SEBI as stock brokers in the debt segment and are then enabled by NSE or BSE as Online Bond Platform Providers (OBPPs), under the framework of 14th Nov 2022 (SEBI NCS Master Circular). SEBI's caution of 19th Nov 2025 told investors to verify a platform on SEBI's page or the exchange lists before using it (SEBI PR 75/2025).

How do I check, step by step?

1. Open SEBI's OBPP page and download NSE's xlsx and BSE's zip.
2. In the app or website footer, find the legal entity name and the SEBI registration number, which starts with INZ.
3. Search both files for that number, and check that the entity name and website match.
4. On NSE, read the enablement date. Not enabled means registered but not operating a platform on NSE.
5. On BSE, read Segment Status and Remarks. Inactive with voluntary closure means the business was shut on BSE.
6. For penalties, search SEBI's enforcement orders for the entity's current and former names (example order listing).

What does the registry look like now?

	NSE	BSE
File date	14th Oct 2026	24th Sep 2026 (file timestamp)
Rows	43	38
Live	39 enabled	35 active
Not live	4 Not enabled: Capri Global Securities, Motilal Oswal, NJ India Invest, Zerodha	3 Inactive after voluntary closure: Neo Wealth, Stable Broking, Sunrise Gilts

Merged by SEBI number, the 2 files cover 59 entities with 58 distinct numbers (NSE, BSE). Our registry lists every one with its dates.

Where do people get caught out?

• Brand and legal names differ. Wint Wealth is Wint Securities Pvt Ltd, which NSE still lists under its former name Fourdegreewater Services (Wint about). BondsIndia rebranded as Digifinn in Sep 2026 under the same entity, Launchpad Fintech (Digifinn).
• Registered is not the same as live. Zerodha is registered but Not enabled on NSE, and Dhan, enabled on both exchanges, had no live bond page on 17th Oct 2026 (Dhan).
• Some apps sell through a registered partner. Tap Invest is on neither list and says it offers listed bonds through BondScanner, run by Sustvest Broking, which NSE enabled on 7th Oct 2025 (Tap Invest, BondScanner). SEBI's interim order of 18th Nov 2024 told Tap Invest's operator, Purple Petal Invest, to stop offering securities for public subscription (SEBI order).
• The files contain errors. BSE prints Dexif Security Broking's number, INZ000320338, against Prachay Securities as well; Prachay's own site gives INZ000322839 (Prachay).
• Similar names are different companies. The Stable Investments named in SEBI's 2024 order is Berkelium Technologies, not Stable Broking, which runs Stable Bonds.

What does registration protect, and what not?

A registered OBPP must route listed bond orders through an exchange RFQ platform, settle through the clearing corporation and follow the stock broker grievance process, so SCORES and exchange arbitration apply (SEBI NCS Master Circular). It does not cover the issuer's ability to pay. Registered platforms have also been fined: Aspero, GoldenPi, IIFL Capital and Wint each paid between ₹1 lakh and ₹4.5 lakh for settling trades off the RFQ platform. See are bond platforms safe.