Nope. As far as I know, you can buy them only through few PSU and private banks
Intrigued by your question, I had a word with my relationship manager at BondsIndia.
They informed me all transactions dealt in the BondsIndia platform has to be reported to ICCL. If the transaction value is less than Rs 2,00,000, they do direct settlement (as RTGS is allowed only for transactions over Rs 2,00,000) Whereas, if the transaction value is more than Rs 2 lacs the settlement is directly done at ICCL. All transactions are reported to ICCL whether above or below 2 lacs, for transparency in the bond trading process. They also told me this not an industry norm, but they do it as a practice as they are the only company integrated with exchange Realtime.
May I know what do you mean by direct settlement?
Believe everyone has to report, also what you mean by they are only company integrated with exchange real time?
Off market transfer and below 2 lakhs clients can transfer directly to seller account ,not to clearing corporation.
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Thank you @rupeshmandal suggesting me indiabonds. I contact them from their Website, but i donāt like it. Their procedure is all offline. Thatās why i donāt like indiabonds pathetic offline sign up work. It really make me bad because i donāt have much time for that.
Thank you @neerajgupta for suggesting me Bondsindia.com. Bondsindia.com really save my time. Their all work is Online, thatās why i able to buy Piramal Bonds in no time.
You could buy Piramal bonds through Demat account too.
Are you saying that the investor transfers funds directly to someoneās bank account who holds the bonds, if the total amount is < 2 Lakh. And there is no liability of the intermediary platform then whether the bond seller transfers bonds or not after taking money?
or is it like, buyer has to transfer money to escrow account of the intermediary platform, which informs the seller that buyer has paid, and then once the bond-holder transfers bonds to the buyerās demat, the intermediary platform released funds to the sellerās bank account?
If you can help me understand how this route works?
In this case, seller is bond house or one holding inventory, but reporting has to happen, just settlement happen offline.
I checked with Indiabonds team. They confirmed that their onboarding and KYC process is now completely online keeping the pandemic in mind. No need to print forms etc.
When I had registered with @GoldenPi 2 years back I had to print forms, fill them, sign and dispatch. I completely agree it is a tedious process and I hated it too. But while registering on Indiabonds I told them I am already KYC verified with A.K Capital because I had opened an account with GoldenPi, so they checked internally and found my KYC is complete already so I didnāt have to repeat the process with them. It saved my time.
Has anyone checked out smest.in yet, I saw an instagram post regarding their launch about bonds. Seems interesting