New Delhi, Oct. 16 -- The Securities and Exchange Board of India (Sebi), in a circular issued on 7 October, has revised the framework governing the number of International Securities Identification Numbers (ISINs) that an issuer can have maturing in a financial year.

The move follows representations from market participants who said that existing restrictions were affecting funding flexibility and increasing refinancing risks, particularly for non-banking financial companies (NBFCs). Mint explains the changes and whether they would substantially help NBFCs.

Sebi has increased the maximum number of ISINs that may mature in a financial year for an issuer of debt securities from 14 to 17. An additional six ISINs will continue to be availab...