The Securities and Exchange Board of India (SEBI), vide Notification No. SEBI/LAD-NRO/GN/2026/308 dated 3 July 2026, has notified the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2026, which amend the SEBI (Custodian) Regulations, 1996 and come into force on 1 October 2026. The amendments replace the requirement for “annual” reporting with “monthly” reporting in regulations 9(d) and 26(i). In the Second Schedule, Part A, the annual fee of Rs. 10,00,000 or 0.0005 is substituted with a monthly fee of Rs. 85,000 or 0.0000416. Part B is amended to require payment of monthly fees within 15 days after completion of each month. Custodians registered on or after the commencement date must pay proportionate monthly fees for the month of registration and full monthly fees thereafter. Custodians registered before commencement must pay proportionate annual fees for the financial year of commencement within 15 days, followed by full monthly fees for subsequent months, with any annual fee already paid for periods after commencement being proportionately adjusted against the amount payable. References to annual fees in the relevant sub-clause are also replaced with monthly fees.
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 3rd July, 2026
Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2026
No. SEBI/LAD-NRO/GN/2026/308.— In exercise of the powers conferred by section 30 of the Securities and
Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Custodian) Regulations, 1996, namely —
1. These Regulations may be called the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2026.
2. They shall come into force on October 1, 2026.
3. In the Securities and Exchange Board of India (Custodian) Regulations, 1996, —
I. In regulation 9(d), the word “annual” shall be substituted with the word “monthly”.
II. In regulation 26(i), the word “annual” shall be substituted with the word “monthly”.
III. In the Second Schedule,
(i) In Part A, in clause (iii), the words and symbols “Annual fee Rs. 10,00,000 or 0.0005” shall be substituted with the words and symbols “Monthly fee Rs. 85,000 or 0.0000416”.
(ii) In Part B, in clause (II),
a) the words and symbol “Payment of annual fee.” shall be substituted with the words “Payment of monthly fee”.
b) sub-clause (1) shall be substituted with the following, namely, –
“(1) On and from the commencement of the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2026, the monthly fee shall be payable with reference to each month, within 15 days of completion of the month.”
c) sub-clause (2) shall be substituted with the following, namely, –
“(2) A custodian who is granted registration on and after the commencement of the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2026, shall pay proportionate monthly fee in respect of the month in which he was granted registration and full monthly fee for every subsequent month during which the registration subsists.”
d) sub-clause (3) shall be substituted with the following, namely, –
“(3) A custodian who is granted registration before the commencement of the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2026, shall pay proportionate annual fee in respect of the financial year of such commencement and full monthly fee for every subsequent month during which the registration subsists. Such proportionate annual fee shall be payable within 15 days of the commencement of the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2026:
Provided that any annual fee paid by a custodian before the commencement of the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2026, in respect of a period, the whole or part of which falls after such commencement, shall be proportionately adjusted against the amount payable under this sub-clause.”
e) in sub-clause (4), the word “annual” shall be substituted with the word “monthly”.
AMIT PRADHAN, Executive Director
[ADVT.-III/4/Exty./204/2026-27]
Note:
The Securities and Exchange Board of India (Custodian of Securities) Regulations, 1996 were published in the Gazette of India on May 16, 1996 vide S.O. No. 344 (E) and was last amended on September 23, 2025 by the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2025 vide notification no. SEBI/LAD-NRO/GN/2025/267.
