New Delhi, May 13 -- The Securities and Exchange Board of India (Sebi) plans to create a specialised category of distributors for debt securities-mirroring the mutual fund distribution model-to widen retail participation in India's bond market.

"Much like mutual fund distributors, it is envisaged they will simplify the investment process for retail investors by assisting with KYC formalities, documentation, and initiating transactions," Sebi whole time member Amarjeet Singh said at the FICCI Financial Products Distribution Summit in Mumbai on Wednesday.

The proposal comes as Sebi pushes to deepen household participation in capital markets other than equities. India's fund management industry, including mutual funds, portfolio management...