Market regulator SEBI is exploring tokenisation of corporate bonds to improve settlement efficiency and market transparency, according to SEBI Chairman Tuhin Kanta Pandey. He says the regulator may launch a pilot project within six to nine months. The proposed initiative aims to use tokenised representations of corporate bonds to support faster and potentially more automated settlement processes. Pandey also links the move to improving liquidity in the corporate bond market. Both outlets report that the pilot is intended as an initial step to assess how tokenisation could function in practice for corporate bond trading and settlement, including whether it can make settlement processes more transparent and reduce delays compared with existing mechanisms. The reports present the timeline as conditional, noting that SEBI is still exploring the approach and that the rollout could occur in the stated window if the regulator finalises the pilot design. No additional details on scope, participating entities, or operational framework are provided in the cited accounts.