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In the late 1990s when several Indian Financial Institutions such as IDBI, ICICI and IFCI started relying on capital markets for resource mobilisation, they needed to issue bonds to the public which required filing of the prospectus for each issuance.
The move will promote ease of doing business for issuers
SEBI, the market regulator in India, has released regulations for the introduction of General Information and Key Information Documents to prevent issuers from filing multiple copies of the same document.