Welcome to Indian Securitisation Foundation

Indian Securitisation Foundation (ISF) is a not-for-profit organisation incorporated under section 25 of the Companies Act, 1956, a representative body of the securitisation industry in India. ISF is formed with the objective of developing, promoting and protecting the securitisation, structured finance markets in India in particular, and market for fixed income securities in general.

Securitisation in India is not just a fixed income investing instrument, but essential for the idea of financial inclusion, in form of priority sector lending. Banks meet their priority sector targets partly through portfolio acquisitions and securitisation, thereby putting securitisation at par with the banking book. Infrastructure sector also depends substantially on securitisation for equity extraction. In essence, the significance of securitisation to India’s financial sector cannot be under-estimated.

Over time, credit default swaps are also expected to be prevalent as ways of synthetically replicating credit risk. It is a clear policy choice to have a strong market for fixed income securities in India: structured finance securities are an essential part of that market, to provide variety, choice and alignment to investor needs. In this background, ISF was conceptualised to provide direction, leadership, advocacy and support to the securitisation and structured finance industry.



  News & Events
  • Call for papers – 12th Securitisation Summit, 2024 - Wadia Ghandy Award for Structured Finance Research, 2024 Read more...
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  • Call for Papers: 11th Securitisation Summit 2023: Indian Securitisati Read more...
  Representations
  • Simple, Transparent and Comparable (STC) securitisation: Discrepancy in risk weights needing urgent remedy Read more...
  • Representation for regulatory amendments to promote securitisation in India Read more...
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  • Representation for considering acquired home loan pools for computation of PBC for HFCs. This representation was, however, turned down.

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  • Covered bonds have been in existence for over 250 years, issued for the first time in the 18th century in Prussia, and has been the primary source of funding of residential mortgages, ships or public sector funding in almost whole of Europe ever since. La Read more...
  • Representation to amend Regulation 54 of SEBI (LODR) Regulations, 2015 and SEBI Circular dated November 13, 2020 (On April 11, 2022, SEBI amended the SEBI amended Listing Regulations and Debenture Trustee Regulations to do away with the concept of &# Read more...
  • Representation and comments on the Draft Directions on Securitisation of Standard Assets and Sale of Loan Exposures Read more...
  • Comments on the Draft Directions on Securitisation of Standard Assets and Sale of Loan Exposures Read more...
  • Representation on modification of waterfall of securitisation pass-through transactions owing to moratorium on loans as announced by the RBI on 27th March, 2020  Read more...
  • Suggestions on Consultation paper on Review of the Regulatory Framework for Corporate bonds and Debenture Trustees Read more...
  • Mortgage Backed Securities in India
    Issues for the Committee on the Development of Housing Finance Securitisation Market
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  • Recommendations for amending SEBI (Securitised Debt Instruments) Regulations, 2008 Read more...
  • Representation requesting clarification that GST is not applicable on receivables  Read more...
  • Representation recommending changes to SEBI (Mutual Funds) Regulations, 1996 with regard to investment in securitized debt instruments Read more...
  • Representation recommending pertinent changes to securitisation guidelines for standard assets Read more...
  • Representation on concern of taxation of assignment of receivables other than actionable claims under GST regime. Read more...
  • Representation for clarification on the position of NBFCs carrying factoring activities as non-principal business activity Read more...
  • Representation - Clarification on factoring business Read more...
  • Representation on need to amend Regulation 54 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015  Read more...
  • Comments on the Insolvency and Bankruptcy Code 2016 Read more...
  • Representation on exemption from applicability of Tax Deduction at Source (TDS) in Securitisation Transactions Read more...
  • Representation on the Insolvency and Bankruptcy Code Read more...
  • Representation to SEBI with respect to Public Issue of  REITs Read more...
  • Representation to SEBI with respect to Public Issue of InvITs Read more...
  • Comments / Recommendations on the Report of the BLRC and the Draft Bankruptcy Bill to Ministry of Finance, Department of Economic Affairs Read more...
  • Representation on Legislative and other Changes for Bond Market in India Read more...
  • Representation on needed reforms for securitisation Read more...
  • Representation for permitting Foreign Institutional Investors under the SEBI (Foreign Portfolio Investments) Regulations, 2014 to invest in asset backed securities Read more...
  • Representation to IRDA for permitting insurance companies to invest in ABS with underlying other than housing loan / infrastructure loans Read more...
  • Representation to CBDT on amendments propsed in the Finance Bill, 2013 relating to securitisationtransactions. Read more...

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