the consultation ledger
Every paper, every window, every answer
Consultation papers of India's financial regulators — with the one fact that decides whether a consultation means anything: were the comments published?
| Opened | Closed | Consultation | Desk | Status | Comments published? |
|---|---|---|---|---|---|
| 06 Nov 2026 | 27 Nov 2026 | Consultation Paper: AML/CFT certification requirement for Principal Officers of intermediaries (NISM exam, six-month compliance window) SEBI paper of 6 Nov 2026 proposes mandatory AML/CFT certification (exam developed with NISM, launched 28 Feb 2025) for principal officers of all s.12 intermediaries, with a proposed six-month compliance period; comments via SEBI online form by 27 Nov 2026. Draft circular at Annexure A. |
SEBI | live | unknown source |
| 05 Nov 2026 | 26 Nov 2026 | Consolidation of PSL instructions — five draft Directions (Commercial Banks, SFBs, LABs, RRBs, UCBs – Priority Sector Lending – Targets and Classification), 2026 RBI press release 2026-2027/1447 (5 Nov 2026) places five entity-wise draft Directions on the website; comments via Connect 2 Regulate or email by 26 Nov 2026; instructions not consolidated would be repealed on issuance. Publication of comments or response statement not specified. |
RBI | live | unknown source |
| 03 Nov 2026 | 23 Nov 2026 | Exposure Draft: IRDAI (Subsidiary Instructions and Consultative Committees) Regulations, 2026 Exposure draft dated 3 Nov 2026 operationalises SBSR Act sections 114B/114C; comments by email to named IRDAI officials by 23 Nov 2026. Split from the June 2026 regulation-making draft (irdai-regmaking-2026). FLAG: IRDAI's own exposure-drafts page did not list this draft as of 2026-11-09 (latest entry 31-07-2026) — recheck for an IRDAI-hosted document URL. |
IRDAI | live | unknown source |
| 22 Oct 2026 | 12 Nov 2026 | Consultation Paper: automatic approval route for investment in related activities by MIIs Proposal: MIIs other than recognized clearing corporations may use automatic approval for specified related activities; fund deployment is capped at the lower of 5% of net worth or regulatory minimum, with governing-board approval and half-year reporting. Not a rule in force. |
SEBI | live | unknown source |
| 14 Oct 2026 | 04 Nov 2026 | Consultation Paper: Review of ICDR provisions for SME IPOs SEBI invites feedback by 4 Nov 2026 on SME IPO eligibility and issue/allotment rules, among other matters; publication of submissions or response statement not verified.; window shut on its stated deadline; publication of submissions or response statement not verified. |
SEBI | closed | unknown source |
| 13 Oct 2026 | 03 Nov 2026 | Consultation Paper: LODR review — monitoring and disclosure of utilization of issue proceeds SEBI invites feedback by 3 Nov 2026 on monitoring-agency reporting and disclosure of issue-proceeds use; publication of submissions or response statement not verified.; window shut on its stated deadline; publication of submissions or response statement not verified. |
SEBI | closed | unknown source |
| 23 Sep 2026 | 31 Oct 2026 | Public Consultation Paper on Recalibrating Economics of Insurance Distribution (commissions, EoM, Bima Sugam, Public Insurance Registry) Window closed 31 Oct 2026 per IRDAI's 24 Oct release (>650 comments; deadline extended from 25 Oct). Submissions went via the IIB portal/Excel template/email; publication of comments or a response statement remains unverified. |
IRDAI | closed | unknown source |
| 12 Sep 2026 | 03 Oct 2026 | Consultation Paper on Review of Closing Auction Session, Market Timings and Settlement Methodologies for Derivative Contracts SEBI's verified account reported 20,000 comments by 19:00 IST on the final submission day, 3 Oct 2026. Submissions and the regulator's response remain to be tracked. |
SEBI | closed | yes source |
| 24 Jul 2026 | 24 Aug 2026 | Discussion Paper: Guidance to Insolvency Professionals for Due Diligence to Identify Fraudulent or Malicious Initiation of Corporate Insolvency | IBBI | closed | yes source |
| 02 Jul 2026 | 22 Jul 2026 | Discussion Paper: amendments to CIRP, Liquidation and Personal Guarantor Regulations Comments submitted through the IBBI website's Public Comments section. |
IBBI | closed | yes source |
| 17 Jun 2026 | 08 Jul 2026 | Draft framework for regulation-making and public consultation under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act 2025 If notified as proposed: minimum 21-day comment windows, and a published general statement of response to comments by notification date — plus a fresh consultation round when final rules differ substantially from drafts. |
IRDAI | closed | unknown source |
| 29 Sep 2025 | Consultation Paper to Align Valuation Practices in the NPS Architecture Released with an invitation for stakeholder comments; PFRDA's comment-publication practice is the open question this register tracks. |
PFRDA | closed | unknown source | |
| 07 Feb 2025 | Consultation Paper on Corporate Governance: secretarial compliance, auditors, related-party transactions | SEBI | closed | yes source | |
| 18 Dec 2024 | SEBI (Procedure for Making, Amending and Reviewing of Regulations) — formalised pre-legislative consultation Board-approved procedure (18 Dec 2024) making structured pre-legislative consultation mandatory — the strongest transparency baseline among the six desks; the watch compares other regulators against it. |
SEBI | final | yes source | |
| 02 Jul 2024 | 30 Apr 2025 | Regulations + Directions on Export and Import of Goods and Services (unified EDF for goods/services/software; SOFTEX folded in) RBI published a 15-item summarized feedback annex (PR 1933) - responses ARE published but commenter identities are not. Rejected asks: EDF waiver continuation, service-export EDF exemption (FEMA s.7 cited), PEM retention. Accepted: monthly consolidated EDF, threshold marking-off, STPI retention, AD 5-day EDPMS window. In force 2026-10-01. Case file: /consultation-rbi-exim-fema-2026.html |
RBI | final | partial source |
| 17 Aug 2022 | 03 Oct 2022 | Discussion Paper on Charges in Payment Systems (40 questions on UPI/IMPS/NEFT/card charges) Submissions were never published by RBI; commenters self-published (NASSCOM's full submission is public by its own choice). The paper set off the UPI-charges debate; the finance ministry publicly denied any plan to charge UPI, and the merchant-discount-rate question resurfaced in later rule-making. |
RBI | final | no source |
| 17 Oct 2019 | Discussion Paper on Guidelines for Payment Gateways and Payment Aggregators Final PA/PG directions followed in 2020; the comment record survives only because commenters like Vidhi published their own submissions, including its delegated-legislation objections on the PSS Act. |
RBI | final | no source |
How to read this table: "unknown" is a finding, not a gap in this register — it means the regulator has not demonstrated a practice of publishing what it receives. RTI is the fallback route; see Access & RTI for ready-to-file templates.