{"slug":"tokenized-bonds-india","question":"Which tokenized bonds have been issued in India?","answer":"2 tokenized bonds so far: Larsen & Toubro Limited — ₹500 crore (50,000 NCDs of ₹1 lakh) at 7.40%; REC Limited — ₹500 crore at 7.30%.","shortAnswer":"2 tokenized bonds so far: Larsen & Toubro Limited — ₹500 crore (50,000 NCDs of ₹1 lakh) at 7.40%; REC Limited — ₹500 crore at 7.30%. NSE says the two issues together raised ₹1,000 crore. REC, a state-owned power financier, was the first issuer; L&T the first private-sector company.","asOf":"2026-10-16","faq":[{"q":"Can a retail investor hold an Indian tokenized bond?","a":"They are listed debentures held in a demat account, so in principle through a broker like any listed bond; the face value of the L&T issue is ₹1 lakh per NCD. TokenBank does not say who may buy — check with your broker."},{"q":"What is tokenized about them?","a":"The record of who holds the bond is kept on a permissioned distributed ledger run by the depository, and the purchase was settled in digital rupees (the RBI’s CBDC). The bond itself — coupon, maturity, listing — is an ordinary debenture."},{"q":"Which of them can I buy without KYC?","a":"None of them is stated as buyable without KYC."},{"q":"Are these yields fixed?","a":"None is stated as fixed. The figures on this page were last checked on 2026-10-16T19:00:00.000Z."}],"count":2,"rows":[{"ticker":"IN-LT-TOKEN-2029","name":"Larsen & Toubro 7.40% tokenised NCDs 2029 (India's first private-sector tokenised bond)","issuer":"Larsen & Toubro Limited","category":"Tokenized Bonds","yield":"7.40%","yieldPct":7.4,"yieldKind":"fixed","minimumUsd":null,"size":"₹500 crore (50,000 NCDs of ₹1 lakh)","chains":"NSDL DLT","country":"India","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://nsearchives.nseindia.com//web/pressrelease/2026-09/PR_cc_17092026_20260917140129.pdf","lastVerified":"2026-10-16T19:00:00.000Z","tier":"imported","page":"https://tokenbank.world/token/IN-LT-TOKEN-2029","json":"https://tokenbank.world/api/tokens/IN-LT-TOKEN-2029"},{"ticker":"IN-REC-TOKEN-2028","name":"REC 7.30% tokenized corporate bond (India's first, SEBI sandbox pilot)","issuer":"REC Limited","category":"Tokenized Bonds","yield":"7.30%","yieldPct":7.3,"yieldKind":"fixed","minimumUsd":null,"size":"₹500 crore","chains":"Permissioned DLT (Demat 2.0)","country":"India","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://nsearchives.nseindia.com/corporate/RECLTD_07092026192505_Signed_Press_Release_07092026.pdf","lastVerified":"2026-10-16T19:00:00.000Z","tier":"imported","page":"https://tokenbank.world/token/IN-REC-TOKEN-2028","json":"https://tokenbank.world/api/tokens/IN-REC-TOKEN-2028"}],"programs":[],"underlyings":[],"sources":[{"label":"NSE press release, 17 September 2026 (REC and L&T on NSE EBP, PDF)","url":"https://nsearchives.nseindia.com//web/pressrelease/2026-09/PR_cc_17092026_20260917140129.pdf"},{"label":"REC Limited press release, 7 September 2026 (PDF)","url":"https://nsearchives.nseindia.com/corporate/RECLTD_07092026192505_Signed_Press_Release_07092026.pdf"}],"_links":{"page":"https://tokenbank.world/answers/tokenized-bonds-india","index":"https://tokenbank.world/api/v1/answers"},"_citation":"TokenBank, “Which tokenized bonds have been issued in India?”, https://tokenbank.world/answers/tokenized-bonds-india (data as of 2026-10-16), CC BY 4.0.","_license":"CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/","_disclaimer":"Computed from sourced data; yields are variable and not guaranteed. Not investment advice. Verify each row’s source before relying on it."}