The Securities and Exchange Board of India, on November 28, 2025, issued the Securities and Exchange Board of India (Informal Guidance) Scheme, 2025.
SEBI has replaced the Informal Guidance Scheme, 2003, with the new Informal Guidance Scheme, 2025, effective December 01, 2025.
• The new scheme allows a wider range of entities—including stock exchanges, clearing corporations, depositories, and Managers of Pooled Investment Vehicles—to request informal guidance.
• Guidance may be sought in the form of Interpretive Letters or No Action Letters, similar to the previous framework.
• A nodal cell has been created to centralize and streamline the processing of all informal guidance applications.
• Applications must be submitted via email to [email protected] in the format provided in Schedule I of the scheme.
• A revised application fee is applicable and must be paid through the SEBI payment module.
• The full text of the IG Scheme, 2025, is available at the link provided by SEBI.
[PR No. 77/2025]
