In a landmark move toward making India’s financial markets more inclusive, the Securities and Exchange Board of India (SEBI) has issued a new circular dated September 25, 2025 (Circular No. SEBI/HO/ITD-1/ITD_VIAP/P/CIR/2025/131), titled “Compliance Guidelines for Digital Accessibility”. This follows an earlier circular from July 31, 2025, mandating all regulated entities to ensure full compliance with the Rights of Persons with Disabilities Act, 2016 and the rules framed thereunder.
The new circular serves as a clarion call to the financial sector: digital accessibility is no longer optional — it is a legal and ethical imperative.
Who Must Comply?
The circular applies to all SEBI-regulated entities, including:
- Recognised Stock Exchanges
- Clearing Corporations
- Registered Depositories
- Registered Intermediaries (brokers, investment advisors, mutual funds, etc.)
- BSE Ltd. (in its roles as IAASB and RAASB)
- Industry bodies like AMFI (Association of Mutual Funds in India) and APMI (Association of Portfolio Managers in India)
These entities are now required to ensure that their websites, mobile applications, and all digital touchpoints are fully accessible to persons with disabilities (PwDs), in line with India’s legal framework and global accessibility standards.
Background: Rights of Persons with Disabilities Act, 2016
The Rights of Persons with Disabilities (RPwD) Act, 2016 mandates that all information and communication technology (ICT) platforms be made accessible to individuals with disabilities. This includes ensuring compatibility with screen readers, voice navigation, and other assistive technologies. The Act aligns with India’s commitments under the UN Convention on the Rights of Persons with Disabilities.
Despite this, digital exclusion remains a widespread issue in the financial sector — from stock trading platforms that are difficult to navigate without sight, to investment portals that are incompatible with screen readers.
SEBI’s July 2025 circular initiated the regulatory framework, and the September 25 follow-up now provides comprehensive compliance guidelines (attached as Annexure-A) and enforcement timelines.
Why This Matters
SEBI’s move reflects a broader transformation in financial governance — one that places equity, inclusion, and accessibility at the core of digital transformation. Financial services have increasingly gone digital, but the digital divide persists. Individuals with visual, auditory, or cognitive disabilities face serious barriers when accessing investment platforms, reading statements, or engaging with advisory services online.
This circular aims to eliminate those barriers and ensure equal access to financial information, services, and products for all citizens.
Implications for the Industry
Entities regulated by SEBI must now:
- Conduct digital accessibility audits of their platforms
- Make necessary UI/UX adjustments to meet WCAG 2.1 standards
- Regularly test with real users from the disability community
- Train internal teams and third-party developers on accessibility compliance
- Report progress and adherence to SEBI through prescribed channels
Failure to comply could attract regulatory penalties, reputational damage, or even legal action under the RPwD Act.
A Call to Action for Inclusive Finance
With this circular, SEBI joins a growing global movement that recognises digital accessibility as a fundamental right and not just a technical feature. The message is clear: the future of financial services must be inclusive, or it will be incomplete.
As India moves toward a $5 trillion economy, inclusive access to financial markets will play a critical role in empowering every citizen — regardless of ability — to participate in and benefit from the country’s economic growth.