A corporate bond is not a deposit. Its return depends on the issuer continuing to pay, and its market value moves with interest rates, so the phrase fixed return describes the coupon, not the outcome. That distinction is easy to lose in a one-line advertisement, and the retail investors now entering this market through platforms are largely first-time bond buyers accustomed to the language of savings products. SEBI's draft attacks the problem at the point of contact: it removes the adjectives that imply safety without evidence, and forces the same advertisement to carry the facts that make risk visible - the credit rating with a link to its rationale, the Credit Risk-o-meter, whether the instrument is secured, and both the Clean and Dirty Price alongside the yield to maturity. The bar on a platform advertising its own holdings closes a conflict of interest, since a platform sitting on an inventory of a security has an incentive to promote it. The channel partner proposal is the mirror image of the same problem. Distribution is what will take bonds beyond metro investors, and SEBI's answer is a certified, enlisted intermediary who can onboard and assist clients but is kept structurally away from money and securities - the safeguard that has made the mutual fund distributor model durable.