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Banking
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SEBI Implements Phased Norms for Merchant Bankers (Dec 2025)
📅 Published 04 Jan 2026 · January 2026
SEBI Implements Phased Norms for Merchant Bankers (Dec 2025)
Net Worth: Rs 25 crore (by Jan 2027), Rs 50 crore (by Jan 2028) for Category-I MBs; Rs 7.5 and Rs 10 crore for Category-II
Liquid Net Worth: Rs 6.25 crore (2027), Rs 12.5 crore (2028)
Underwriting Limits: Max 20x liquid net worth, transition period of 2 years
Minimum Revenue: Rs 25 crore (Category-I), Rs 5 crore (Category-II) over 3 years
📝 Relevant Exams:
UPSC